Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Duty-free imported inputs must be used by the actual user and cannot be sold or transferred contrary to exemption conditions. The notes explain that job work requires production substantially from materials supplied by the customer; where processors use their own inputs, issue sale invoices for different intermediate goods, and adjust the imported input's value against sale prices, the arrangement constitutes a sale rather than job work. Such diversion supports confiscation, recovery of duty with interest, and penalty. Obligations under import bonds continue until discharge, so the duty recovery is not time-barred; suppression of diversion by presenting sales as job work also warrants penalty. A director responsible for diversion may be penalised under section 112(a)(ii).
Duty-free imported inputs must be used by the actual user and cannot be sold or transferred contrary to exemption conditions. The notes explain that job work requires production substantially from materials supplied by the customer; where processors use their own inputs, issue sale invoices for different intermediate goods, and adjust the imported input's value against sale prices, the arrangement constitutes a sale rather than job work. Such diversion supports confiscation, recovery of duty with interest, and penalty. Obligations under import bonds continue until discharge, so the duty recovery is not time-barred; suppression of diversion by presenting sales as job work also warrants penalty. A director responsible for diversion may be penalised under section 112(a)(ii).
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