Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The case pertains to the recovery of customs duty in the form of IGST forgone during imports under the advance authorization scheme from October 2017 to November 2018. The appellant had fulfilled the pre-import condition in most cases, and in some cases, the bill of entry was re-assessed, and the appellant paid the IGST, which they did not contest as they were eligible for ITC under GST. The demand for IGST, along with interest, fine, and penalties, is deemed unsustainable as there was no mala fide on the appellant's part, and the penalty corresponding to the duty paid, which is not in contest, is also not sustainable on the ground of revenue neutrality. The issue involved the interpretation of the exemption notification on advance authorization, and the suppression of facts cannot be attributed to the appellant. Therefore, the extended period for demand is prima facie not invokable, and the appellant has made out a strong prima facie case on the time bar. The impugned order is unsustainable, and the appeal is allowed.
The case pertains to the recovery of customs duty in the form of IGST forgone during imports under the advance authorization scheme from October 2017 to November 2018. The appellant had fulfilled the pre-import condition in most cases, and in some cases, the bill of entry was re-assessed, and the appellant paid the IGST, which they did not contest as they were eligible for ITC under GST. The demand for IGST, along with interest, fine, and penalties, is deemed unsustainable as there was no mala fide on the appellant's part, and the penalty corresponding to the duty paid, which is not in contest, is also not sustainable on the ground of revenue neutrality. The issue involved the interpretation of the exemption notification on advance authorization, and the suppression of facts cannot be attributed to the appellant. Therefore, the extended period for demand is prima facie not invokable, and the appellant has made out a strong prima facie case on the time bar. The impugned order is unsustainable, and the appeal is allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
