2001 (7) TMI 1043 - AT - Customs

Summary

The case involves a waiver of pre-deposit and stay of recovery of duty, interest, and penalty amounting to Rs. 33,12,691.60. The dispute is related to the availing of input stage credit and benefits under Notification 203/92 for duty free clearances. The applicants sought the benefit of the notification based on the reversal of input stage credit, but the Government's Amnesty Scheme did not cover them. The tribunal directed a pre-deposit of Rs. 15.00 lakhs towards duty within eight weeks, with the balance duty and penalty pre-deposit dispensed with and recovery stayed pending the appeal. Compliance was to be reported by 5-9-2001.