Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
HC held that Extra Duty Deposit (EDD) does not constitute customs duty under Section 27 of Customs Act, 1962, but rather functions as a security deposit as clarified in Circular No.5/2016-Customs. EDD was collected to secure potential customs duty liability due to alleged under-declaration concerns. The limitation period prescribed under Section 27 for customs duty refund claims is not applicable to EDD refunds. The court rejected respondent's stance that refund application was time-barred, noting that EDD remained distinct from duty determined by Special Valuation Branch. The impugned order's reliance on limitation period was found legally untenable, leading to petition's allowance.
HC held that Extra Duty Deposit (EDD) does not constitute customs duty under Section 27 of Customs Act, 1962, but rather functions as a security deposit as clarified in Circular No.5/2016-Customs. EDD was collected to secure potential customs duty liability due to alleged under-declaration concerns. The limitation period prescribed under Section 27 for customs duty refund claims is not applicable to EDD refunds. The court rejected respondent's stance that refund application was time-barred, noting that EDD remained distinct from duty determined by Special Valuation Branch. The impugned order's reliance on limitation period was found legally untenable, leading to petition's allowance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
