https://www.taxtmi.com/caselaws?id=773123 HC modified order: penalty under s.129(1)(a) computed at 200% of tax on zero-rated exports quashed and reduced to Rs.25,000; bank guarantee furnished for release of goods and conveyances ordered released. Court held exports are zero-rated (no outward tax payable) with remedy of refund or LUT/credit as per IGST/CGST scheme, but denied full relief where petitioners suppressed that purchase orders were routed through sister concerns. Petitioners directed to pay costs of Rs.10,000 per petition for suppression of facts. Petitions disposed. en-us Thu, 24 Apr 2025 00:00:00 +0530 Fri, 03 Oct 2025 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773123 HC modified order: penalty under s.129(1)(a) computed at 200% of tax on zero-rated exports quashed and reduced to Rs.25,000; bank guarantee furnished for release of goods and conveyances ordered released. Court held exports are zero-rated (no outward tax payable) with remedy of refund or LUT/credit as per IGST/CGST scheme, but denied full relief where petitioners suppressed that purchase orders were routed through sister concerns. Petitioners directed to pay costs of Rs.10,000 per petition for suppression of facts. Petitions disposed. Case-Laws GST Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773123