https://www.taxtmi.com/caselaws?id=447470 CESTAT Mumbai partly allowed the appeal against revocation of customs broker license and forfeiture of security deposit. The broker was charged with violating Regulations 10(d) and 10(n) of CBLR 2018 regarding duty-free imports diverted to local market under Advance Authorisation scheme. CESTAT held that Regulation 10(d) violation was unsustainable as the broker was unaware of goods diversion discovered later through DRI intelligence. However, the broker failed to exercise due diligence under Regulation 10(n) when obtaining documents through intermediary. CESTAT set aside license revocation and security deposit forfeiture, imposing penalty of Rs.10,000 for inadequate proactive compliance with KYC verification requirements. en-us Mon, 18 Dec 2023 00:00:00 +0530 Wed, 27 Dec 2023 09:01:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447470 CESTAT Mumbai partly allowed the appeal against revocation of customs broker license and forfeiture of security deposit. The broker was charged with violating Regulations 10(d) and 10(n) of CBLR 2018 regarding duty-free imports diverted to local market under Advance Authorisation scheme. CESTAT held that Regulation 10(d) violation was unsustainable as the broker was unaware of goods diversion discovered later through DRI intelligence. However, the broker failed to exercise due diligence under Regulation 10(n) when obtaining documents through intermediary. CESTAT set aside license revocation and security deposit forfeiture, imposing penalty of Rs.10,000 for inadequate proactive compliance with KYC verification requirements. Case-Laws Customs Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447470