IGST exemption availed under EPCG Scheme rejected. Demand of ...

Supreme Court Overturns IGST Exemption Rejection; Confiscation and Penalties Dismissed, Importers Eligible for GST Refunds.

July 26, 2024

Case Laws Customs AT

IGST exemption availed under EPCG Scheme rejected. Demand of customs duty in lieu of IGST, confiscation, interest, penalties under Customs Act, 1962 confirmed. Allegation: Notification amended, payment in INR for services in Appendix 5D counted towards export obligation only if IGST exemption not availed. HELD: EPCG License issued on 21.01.2019, export obligation period till 20.01.2025. Proceedings premature before expiry of licensing period, impugned order confirming demands unjustified. Supreme Court judgment: Importers not meeting pre-import conditions to pay GST/Compensation Cess, can claim refund/avail Input Tax Credit. If IGST paid, available as Input Tax Credit, reducing net GST liability, revenue neutral. Confiscation of imported goods set aside. Penalties unwarranted. Impugned order set aside, appeal allowed.

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IGST exemption availed under EPCG Scheme rejected. Demand of ...

Supreme Court Overturns IGST Exemption Rejection; Confiscation and Penalties Dismissed, Importers Eligible for GST Refunds.

July 26, 2024

Case Laws Customs AT

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