9911796707
TMI Blog2024 (9) TMI 1261X X X X Extracts X X X X X X X X Extracts X X X X ..... roblem seems to be only as regards 3% value addition for non-originating goods. It is respondents case that the value addition of 3% shown to have been achieved appears to be very high and therefore, to check the genuinity of the value addition claim, department has decided to call for verification of the details claimed in the country of origin certificate. Upon furnishing the bank guarantee, respondents shall forthwith permit re-export of the Platinum Ingots to the extent of value of bank guarantee given covered under 19 bills of entry filed by petitioner - Respondents are directed to complete the verification/ investigation at the earliest on or before 31st October 2024. Petition disposed off. - K.R. SHRIRAM JITENDRA JAIN, JJ. For the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , in so far as the description of the goods is concerned there is no objection. Since, the petitioner has availed benefits of exemption of duty under CEPA Notification No. 22/2022 dated 30.04.2022, the Competent Authority decided to simultaneously verify the COO Certificates and fulfillment of origin criteria as enumerated in Para 9(b) above. 9. The Origin Criteria mentioned in the Certificate of origin submitted by the Petitioner is 'PSR' which stands for Product Specific Rule. The imported goods fall under Tariff Head 711011. The PSR for this heading is CTSH+3% Value Addition 'CTSH' requires that the raw materials shall undergo change in classification at the sub-heading level once the finished goods are manufactured. In a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... melt it again and segregate platinum and gold. The moot point is whether at the time of reverse engineering are they incurring a similar cost or not. Therefore, in order to check the genuinity of the value addition claimed it was decided to cause verification of the details claimed in the Country of Origin Certificate. 4. Therefore, respondents do not seem to have any objection insofar as description of the goods is concerned. Respondents also do not seem to have any issue so far as it relates to change at CTH level in the final product. According to respondents, the goods imported meets the CTH criteria. The problem seems to be only as regards 3% value addition for non-originating goods. It is respondents case that the value addition of 3% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gust 2024 for verification of the origin certificate to which there is no reply. To a query asked, Mr. Chadrashekhar stated that there is not even an acknowledgment. 9. The Director, ICD is directed to forthwith attend to the communication received by him from the Commissioner of Customs, Airport Special Cargo Commissionerate and verify the origin certificate so that investigation is completed by 31st October 2024 as directed by us. 10. If the report is not adverse to petitioner, respondents shall within a week of receiving a request from petitioner, cancel and return the bank guarantee. 11. If the report is adverse to petitioner, petitioner shall renew the bank guarantee for a period of one year and in any case, until the completion of adj ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
