Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
EPCG Scheme - Benefit of an EXIM scheme - Non fulfilment of the export obligations - The High Court examined the clauses of the bonds executed by the appellant and concluded that the penalty clause in the indemnity cum guarantee bond was valid. This clause mandated payment of 24% interest per annum on the duty saved in case of default. The court differentiated between this penalty and the interest claimed by the Customs Department, affirming the appellant's liability for the penalty outlined in the bonds.
EPCG Scheme - Benefit of an EXIM scheme - Non fulfilment of the export obligations - The High Court examined the clauses of the bonds executed by the appellant and concluded that the penalty clause in the indemnity cum guarantee bond was valid. This clause mandated payment of 24% interest per annum on the duty saved in case of default. The court differentiated between this penalty and the interest claimed by the Customs Department, affirming the appellant's liability for the penalty outlined in the bonds.
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