Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
The CESTAT allowed the appeals filed by the anonymized Customs Broker firm and its G-card holder, setting aside penalties imposed under Ss. 112(a)(i) and 114AA of the Customs Act, 1962. The Tribunal held that the Revenue failed to establish any collusion or knowledge on their part regarding the mis-declaration and concealment of tyres, which were detected only upon 100% examination. It was found that the appellants had duly complied with KYC requirements, having verified all relevant importer documents, and no evidence showed intentional false statements or submission of incorrect documents. The Tribunal further held that any alleged breach of CBLR, 2018 must be addressed in separate licensing proceedings, and in the absence of a proved Customs offence, no penalty under the Act was legally sustainable.
The CESTAT allowed the appeals filed by the anonymized Customs Broker firm and its G-card holder, setting aside penalties imposed under Ss. 112(a)(i) and 114AA of the Customs Act, 1962. The Tribunal held that the Revenue failed to establish any collusion or knowledge on their part regarding the mis-declaration and concealment of tyres, which were detected only upon 100% examination. It was found that the appellants had duly complied with KYC requirements, having verified all relevant importer documents, and no evidence showed intentional false statements or submission of incorrect documents. The Tribunal further held that any alleged breach of CBLR, 2018 must be addressed in separate licensing proceedings, and in the absence of a proved Customs offence, no penalty under the Act was legally sustainable.
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