https://www.taxtmi.com/caselaws?id=204517 The Appellate Tribunal CESTAT, CHENNAI, confirmed demands for customs duty, excise duty, and penalties against a 100% Export Oriented Unit (EOU) due to partial fulfillment of export obligations. The tribunal reduced the demand by 50% but rejected further reductions based on depreciation of capital goods and debonding payments. It held that being declared a BIFR unit did not warrant a full waiver of pre-deposit. The appellants were directed to deposit Rs. 75,00,000 within eight weeks, with the balance duty and penalties waived upon such deposit, and recovery stayed pending the appeal. Compliance reporting was set for 6-9-2010. en-us Mon, 14 Jun 2010 00:00:00 +0530 Fri, 27 May 2011 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204517 The Appellate Tribunal CESTAT, CHENNAI, confirmed demands for customs duty, excise duty, and penalties against a 100% Export Oriented Unit (EOU) due to partial fulfillment of export obligations. The tribunal reduced the demand by 50% but rejected further reductions based on depreciation of capital goods and debonding payments. It held that being declared a BIFR unit did not warrant a full waiver of pre-deposit. The appellants were directed to deposit Rs. 75,00,000 within eight weeks, with the balance duty and penalties waived upon such deposit, and recovery stayed pending the appeal. Compliance reporting was set for 6-9-2010. Case-Laws Central Excise Mon, 14 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204517