Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
CESTAT held that para 3.16.2 of the Foreign Trade Policy bars SHIS only where the status holder has availed TUFS for exports made in the same year. The appellant had not claimed SHIS on the basis of its own exports; it was only a transferee holder of SHIS scrips originally issued to others, and it used those scrips later for duty payment on imported capital goods. The Tribunal also held that Notification No. 104/2009-Cus permitted drawback or Cenvat credit of additional duty debited in the scrip, and no bar applied to a transferee holder. The demand of wrongly availed Cenvat credit, interest and penalty was set aside.
CESTAT held that para 3.16.2 of the Foreign Trade Policy bars SHIS only where the status holder has availed TUFS for exports made in the same year. The appellant had not claimed SHIS on the basis of its own exports; it was only a transferee holder of SHIS scrips originally issued to others, and it used those scrips later for duty payment on imported capital goods. The Tribunal also held that Notification No. 104/2009-Cus permitted drawback or Cenvat credit of additional duty debited in the scrip, and no bar applied to a transferee holder. The demand of wrongly availed Cenvat credit, interest and penalty was set aside.
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