2024 (5) TMI 473

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....ng, manufacturing and export of software against LOP reference no. STPK: DIR:327:2001-02:539 dated 12.02.2002 issued by the Director, STPI, Kolkata. M/s. Jayshree Infotech Consultants also executed a B-17 Bond dated 18.07.2002 with the Customs authorities binding themselves to fulfil their export obligations and the conditions stipulated in the Customs Notification. 2. As per the performance report forwarded by STP, Kolkata vide their letter No. STPK:MGR:327 2007-08:519 dated 12.07.2007, it was observed as under: - i) That the unit failed to achieve minimum required export obligation (EO) in two out of five financial years and during five years as a whole. ii) That the unit failed to meet the required annual NFE and NFEP in three out o....

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....sand sixty two only) are confiscated under Rule25(1) (d) of Central Excise Rules, 2002. (b)(ii) However an option is given to the owner of the impugned goods M/s Jayashree Infotech Consultants to redeem the goods valued at Rs.40,10,062.00 (Rupees forty lakh ten thousand sixty two only) on payment of redemption fine of Rs. 10,00,000/- (Rupees ten lakh only) in terms of Section 34 of the Central Excise Act, 1944. 16(i). In view of the aforesaid reasons, I confirm the demand of Customs duty amounting to Rs. 1,01,65,881.00 (Rupees one crore one lakh sixty five thousand eight hundred eighty one only) and the demand of Central Excise duty amounting to Rs.5,53,112.00 (Rupee five lakh fifty three thousand one hundred twelve only) in respect o....

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.... export obligation. 6.2. The appellant submits that due to circumstances beyond their control, they could not fulfil the export obligation within the initial period of five years. They applied for extension to the Development Commissioner, STPI vide their letter dated 12.12.2006. The STPI, Kolkata initially rejected their application, however, later, on 12.03.2010, the letter of permission given to the appellant was extended for a period of five years from 05th May, 2008; the extension of the validity was granted with retrospective effect by the order dated 12.03.2010. 6.3. The appellant submits that when they were in the process of getting the extension from the Development Commissioner, STPI, the Department initiated proceedings for rec....