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2018 (7) TMI 1509 - SC - Central ExciseStay on recovery - Excisability of Signages which are erected at various petrol bunks of IOC - Circular No.58/1/02-CX dated 15.1.2002 - Held that - The matter is at pre-assessment proceedings stage. It is thus directed that as and when assessment proceedings are completed, 50% of the Principal VAT amount would be deposited with the concerned authorities. Upon such deposit, all further recovery shall remain stayed.
Issues involved:
1. Stay on recovery of Principal VAT amount 2. Expedited hearing for appeals 3. Deposit of 50% of Principal VAT amount Analysis: 1. Stay on recovery of Principal VAT amount: The Supreme Court granted leave in two Special Leave Petitions (SLPs) and a Civil Appeal, directing the appellants to deposit 50% of the Principal VAT amount with the competent authority within a specified time frame. Upon such deposit, all further recovery of the VAT amount was stayed. This decision was made to provide relief to the appellants during the pendency of the proceedings and to ensure that recovery actions were halted temporarily. 2. Expedited hearing for appeals: The Court expedited the hearing for all the appeals mentioned in the judgment, emphasizing the importance of timely resolution of the legal matters at hand. This decision to fast-track the proceedings indicates the Court's commitment to efficient and timely adjudication of the cases, ensuring that justice is delivered promptly to the parties involved. 3. Deposit of 50% of Principal VAT amount: In cases where assessment proceedings were at a pre-assessment stage, the Court directed that upon completion of the assessment, 50% of the Principal VAT amount should be deposited with the concerned authorities. This deposit was a condition for staying further recovery actions related to the VAT amount. By imposing this requirement, the Court aimed to balance the interests of both the tax authorities and the appellants, ensuring that a portion of the disputed amount was secured while the legal process unfolded.
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