Tribunal Rules Gold Import Pre-Notification, Appeal Allowed The Tribunal held that the date of import of the gold was 17/10/2017 based on the issuance of the Airway bill. As the appellant imported the gold before ...
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The Tribunal held that the date of import of the gold was 17/10/2017 based on the issuance of the Airway bill. As the appellant imported the gold before the introduction of Notification No. 34/2017 dated 18/10/2017, which did not apply to Normal importers, the restrictions in the notification were deemed inapplicable. The Tribunal determined that the gold was freely importable before the subsequent notification of 18/12/2019. Consequently, the impugned order was set aside, and the appeal was allowed with any consequential relief.
Issues: 1. Date of import of the gold 2. Applicability of Notification No. 34/2017 dated 18/10/2017 3. Freely importable status of gold before Notification dated 18/12/2019
Issue 1: Date of import of the gold The appellant placed an order for gold import on 12/10/2017, with subsequent invoicing and transportation activities. The Airway bill for transportation was issued on 17/10/2017. The Tribunal determined that the relevant date for import by air is when the Airway bill is issued, which in this case was 17/10/2017. Therefore, the date of import of the gold was held to be 17/10/2017.
Issue 2: Applicability of Notification No. 34/2017 dated 18/10/2017 The Tribunal found that since the gold was imported as a Normal importer and the Bill of Entry was filed accordingly, the provisions of Notification No. 34/2017 dated 18/10/2017, which required manufacturing and exporting of gold by Nominated Agencies, were not applicable to the appellant. As the notification was issued after the date of import, it was deemed not applicable to the case.
Issue 3: Freely importable status of gold before Notification dated 18/12/2019 The Tribunal referenced a previous case and noted that prior to the Notification dated 18/12/2019, gold was freely importable by Normal importers as per RBI Guidelines. Based on this analysis, it was concluded that the gold was freely importable by Normal importers before the issuance of the Notification dated 18/12/2019. Therefore, the restrictions contained in Notification No. 34/2017 dated 18/10/2017 were deemed not applicable to the appellant, as the import was completed before the introduction of the notification.
In conclusion, the impugned order was set aside, and the appeal was allowed with consequential relief, if any.
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