9911796707
TMI Blog2016 (9) TMI 614X X X X Extracts X X X X X X X X Extracts X X X X ..... avoided payment of duty on clearances worth crores of rupees. In particular, the petitioner has challenged an order dated 18.03.2016, as modified by a later order dated 24.06.2016, passed by the Commercial Tax Officer under Section 45(1) of the VAT Act. 2. Brief facts are as under: The petitioner is engaged in the business of trading of high quality refined non-ferrous metals and aluminum, lead, zinc copper and Nickel. Such goods are used by various industries for purposes such as construction, home appliances etc. The petitioner is a dealer registered under the VAT Act and also under the Central Sales Tax Act. The petitioner imports such goods from its overseas supplier i.e. M/s. Trafigura Pvt. Ltd. and such goods are sold to the custom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crores upon offering bank guarantee of matching sum. In this context, the authority passed further order dated 24.06.2016 restricting the attachment of the goods to Rs. 20 crores. 4. On the premise that the petitioner has not breached any provision of the VAT Act, if is not liable to pay VAT on the transaction in question and that even after the order of attachment passed on 18.03.2016, the authorities have not completed the assessment despite petitioner's full cooperation, the present petition came to be filed. 5. Counsel for the petitioner submitted that the petitioner has not breached any of the provisions of the VAT Act. The goods are supplied by the foreign supplier to the petitioner. Upon arrival, the goods are stored in bonded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f documents can be attributed to different but synonymous terms being used by the same set of goods. Our attention was drawn to the material produced by the petitioner alongwith the affidavit-inrejoinder dated 01.09.2016 to contend that these terms are used interchangeably and, in any case, minor changes would not change the basic character of the goods nor would they be classifiable under different headings. In any case, counsel for the petitioner would argue, this would not result into any VAT liability. 8. In terms of Section 45(1) of the VAT Act, the competent authority undoubtedly has the power of provisional attachment where during the pendency of any proceedings of assessment or re-assessment of turnover escaping assessment, he is o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
