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TMI Blog2002 (11) TMI 447X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 (Rs. 48,11,758/-)] under EPCG Scheme for import of capital goods at concessional rate of duty of 15% (Basic Customs Duty) ad valorem under Notification No. 110/95-Cus., dated 5-6-1995 for a project to manufacture socks/wrist band/head band. However, payment of Additional Duty of Customs was exempt by the said notification. The capital goods (Tariff Heading 8447.90) valued at Rs. 42,26,850/- were imported vide B/E No. 0930, dated 8-3-1996 through Jawahar Custom House, Nhava Sheva. Under the EPCG Scheme, the applicant was required to export four times of the CIF value of the said capital goods which works out to Rs. 1,60,47,000/- within a period of five years. The total duty foregone (Basic Customs Duty + Additional Customs Duty) was to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prayed for immunity from penalty, fine and prosecution. 6. The Commission, vide Interim Order dated 10-5-2001, allowed the application to be proceeded with under the provisions of Section 127C(1) of the Customs Act, 1962. The Commission also ordered that the Bank Guarantee of Rs. 4,90,000/- be encashed by the jurisdictional Commissioner of Customs. The Commission directed the applicant to pay the balance amount of duty of Rs. 3,59,469/- within 30 days of receipt of the order. 7. The applicant, vide letter dated 1-6-2001, requested the bank to make the payment of Rs. 4.90 lacs to the Commissioner of Customs against the said Bank Guarantee. The applicant made the payment of Rs. 3,59,469/- vide Demand Draft dated 18-6-2001. 8. The next ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the Applicant could not obtain a certificate from DGFT for partial fulfilment of export obligation and therefore, he is accepting the entire amount of duty of Rs. 9,51,253/-. He further submitted that the applicant has already paid Rs. 8,49,469/- and that there is only a balance of Rs. 1,01,784/- required to be paid by the applicant. He also sought some time to pay the balance amount. 13. The Revenue was represented by Shri M.S. Thakur, Shri S.B. Arondekar and Shri A.K. Sinha, Appraisers from Jawahar Customs House, Nhava Sheva. 14. The Revenue submitted that the applicant has to pay interest @ 24% over and above the admitted duty liability. 15. The Commission has gone through the case records and the submissions made by the applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of Rs. 3,59,469/- vide demand draft dated 18-6-2001. 19. The applicant during the course of the final hearing held on 29-10-2002 submitted that they could not obtain a certificate from DGFT for partial fulfilment of export obligation and agreed to accept the entire amount of duty of Rs. 9,51,253/- and also to pay balance of Rs. 1,01,784/- and sought for grant of immunities as requested in their application. 20. Considering all the facts and circumstances of the case, the Commission orders that the terms of settlement under sub-section (7) of Section 127(C) of Customs Act, 1962 shall be as follows:- Duty of Customs:- The case of Applicant is settled for an amount of Rs. 9,51,253/- of which the applicant has already made payment of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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