2011 (12) TMI 708

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....stoms, Excise & Service Tax Appellate Tribunal, South Zonal Bench, Bangalore (for short, 'the Tribunal'). 2. The appeal involves the interpretation of Notification No. 126/94, dated 3-6-1994. 3. The assessee had imported capital goods and also raw material for the manufacture and export of cut flowers for a period of five years. The assessee which is a 100% export oriented unit mad....

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....ribunal on the plain language of clause 3(b)(i) of the notification, which reads as follows : (3) The importer at the time of import or procurement of said goods executes a bond in such form and for such sum as may be prescribed by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself :- (a)        ... ... ... (b)&n....

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.... years as the Assistant Commissioner of Customs or Deputy Commissioner of Customs may on being satisfied that there is sufficient cause for not using them as above within the said period allow;" 7. With regard to the duty on consumables etc., the relevant clause that is applicable is clause 3(b)(iv). This requires the exporter to achieve Net Foreign Exchange Earning as a Percentage of Expo....