Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Limitation of appeal is to be reckoned from the date of communication under section 128, and an appeal admitted and heard cannot later be dismissed on mere technical limitation without notice, entitling the appellant to relief. Para 2.17 of the FTP prior to June 2012 allowed import of second hand capital goods, so the 2009 import was freely importable and confiscation under statutory confiscation provisions is unsustainable. Valuation based solely on a chartered engineer's residual value estimate, without evidence of extra consideration or suppression, does not establish mis declaration; consequently redemption fine and penalty fail and are set aside.
Limitation of appeal is to be reckoned from the date of communication under section 128, and an appeal admitted and heard cannot later be dismissed on mere technical limitation without notice, entitling the appellant to relief. Para 2.17 of the FTP prior to June 2012 allowed import of second hand capital goods, so the 2009 import was freely importable and confiscation under statutory confiscation provisions is unsustainable. Valuation based solely on a chartered engineer's residual value estimate, without evidence of extra consideration or suppression, does not establish mis declaration; consequently redemption fine and penalty fail and are set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
