Importer wrongly claimed lower IGST rate on circular knitting machine import.

The CESTAT held that the respondent-importer had wrongly claimed a lower IGST rate on import of a Single Jersey Circular Knitting Machine, constituting suppression of facts. The extended period of limitation and penalties u/s 114A were rightly invoked, as there was no mala fide intent. The imported goods were liable for confiscation u/s 111(m), but no redemption fine was imposed since the goods were unavailable. The Revenue's appeal was allowed, upholding the demand for short-paid duty while setting aside the penalties. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X