https://www.taxtmi.com/caselaws?id=450512 The CESTAT Ahmedabad upheld penalty against a firm for misusing MEIS scrips through mis-classification of exported quilts containing cotton/polyester, violating Foreign Trade Policy exemption notification. Despite the firm's voluntary payment of differential amount with interest before show cause notice, the tribunal found wrongful use of MEIS scheme justified penalty. However, penalties on individual employees (export manager and shipping manager) were set aside as their passive role showed no knowledge or connivance warranting punishment under Customs Act sections 114(iii), 112, or 114AA. Penalty on firm partner was also dispensed with since penalty was already imposed on the firm itself. en-us Thu, 15 Feb 2024 00:00:00 +0530 Thu, 07 Mar 2024 07:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450512 The CESTAT Ahmedabad upheld penalty against a firm for misusing MEIS scrips through mis-classification of exported quilts containing cotton/polyester, violating Foreign Trade Policy exemption notification. Despite the firm's voluntary payment of differential amount with interest before show cause notice, the tribunal found wrongful use of MEIS scheme justified penalty. However, penalties on individual employees (export manager and shipping manager) were set aside as their passive role showed no knowledge or connivance warranting punishment under Customs Act sections 114(iii), 112, or 114AA. Penalty on firm partner was also dispensed with since penalty was already imposed on the firm itself. Case-Laws Customs Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450512