https://www.taxtmi.com/caselaws?id=750860 CESTAT Mumbai ruled in favor of appellants regarding warehousing of imported goods without duty payment. The tribunal held that appellants properly complied with Section 46 of Customs Act, 1962 by filing Bills of Entry for warehousing imported raw materials. Final products (boats) were cleared from private bonded warehouse after paying applicable duties and claiming exemption under Notification 50/2017-Customs. No IGST was payable on imported raw materials used in manufacturing as per Schedule-III entry 8(a) of CGST Act, 2017. The bonded warehouse operates as duty deferment scheme with duties payable only upon clearance of final products. Commissioner's order confirming demands was set aside. en-us Fri, 16 Feb 2024 00:00:00 +0530 Tue, 02 Apr 2024 06:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750860 CESTAT Mumbai ruled in favor of appellants regarding warehousing of imported goods without duty payment. The tribunal held that appellants properly complied with Section 46 of Customs Act, 1962 by filing Bills of Entry for warehousing imported raw materials. Final products (boats) were cleared from private bonded warehouse after paying applicable duties and claiming exemption under Notification 50/2017-Customs. No IGST was payable on imported raw materials used in manufacturing as per Schedule-III entry 8(a) of CGST Act, 2017. The bonded warehouse operates as duty deferment scheme with duties payable only upon clearance of final products. Commissioner's order confirming demands was set aside. Case-Laws Customs Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750860