https://www.taxtmi.com/caselaws?id=764834 CESTAT New Delhi held that the importer's declaration of lower IGST rate did not constitute suppression or misrepresentation. The tribunal found Gujarat HC's decision in Prince Spintex case applicable, noting IGST paid at 5% was refundable under Notification 79/2017 exempting capital goods from IGST. No malafide intent was established, making extended limitation period inapplicable. While goods were liable for confiscation under Section 111(m) of Customs Act 1962, no redemption fine was imposed as goods were unavailable. Revenue's appeal was allowed regarding duty demand and penalty confirmation. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 17 Jan 2025 17:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764834 CESTAT New Delhi held that the importer's declaration of lower IGST rate did not constitute suppression or misrepresentation. The tribunal found Gujarat HC's decision in Prince Spintex case applicable, noting IGST paid at 5% was refundable under Notification 79/2017 exempting capital goods from IGST. No malafide intent was established, making extended limitation period inapplicable. While goods were liable for confiscation under Section 111(m) of Customs Act 1962, no redemption fine was imposed as goods were unavailable. Revenue's appeal was allowed regarding duty demand and penalty confirmation. Case-Laws Customs Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764834