Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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The text clarifies that the term importer encompasses the actual importer, owner, beneficial owner and any person holding himself out as importer, making an IEC holder liable despite not being the legal owner; consequence: such importer bears full import liabilities. Prohibited goods' value was assessed and penalties under the customs penalty regime may equate to the value of goods; consequence: section 112 exposure equals goods' value. False declarations in Bills of Entry attract penalties for knowingly false declarations, potentially up to multiples of goods' value; consequence: a penalty amounting to roughly 11% of value was regarded as just and maintained.
The text clarifies that the term importer encompasses the actual importer, owner, beneficial owner and any person holding himself out as importer, making an IEC holder liable despite not being the legal owner; consequence: such importer bears full import liabilities. Prohibited goods' value was assessed and penalties under the customs penalty regime may equate to the value of goods; consequence: section 112 exposure equals goods' value. False declarations in Bills of Entry attract penalties for knowingly false declarations, potentially up to multiples of goods' value; consequence: a penalty amounting to roughly 11% of value was regarded as just and maintained.
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