https://www.taxtmi.com/caselaws?id=122432 The customs settlement framework allows the Commission to grant immunity from prosecution, penalty, fine and interest where the applicant cooperates and makes a full and true disclosure of duty liability. In the settled matter, immunity was granted after compliance with the direction to pay the admitted duty. The Commission also held that Modvat or Cenvat credit was not available for the CVD component paid later under settlement, because the capital goods had been imported and cleared before the relevant Cenvat scheme became operative and the transitional provision did not cover the claim. Release of the bond was treated as consequential to payment of the balance duty and ordered to the extent it related to the settled case. en-us Thu, 13 Sep 2001 00:00:00 +0530 Mon, 13 Aug 2012 16:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122432 The customs settlement framework allows the Commission to grant immunity from prosecution, penalty, fine and interest where the applicant cooperates and makes a full and true disclosure of duty liability. In the settled matter, immunity was granted after compliance with the direction to pay the admitted duty. The Commission also held that Modvat or Cenvat credit was not available for the CVD component paid later under settlement, because the capital goods had been imported and cleared before the relevant Cenvat scheme became operative and the transitional provision did not cover the claim. Release of the bond was treated as consequential to payment of the balance duty and ordered to the extent it related to the settled case. Case-Laws Central Excise Thu, 13 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122432