SIGN IN SUBSCRIBE

News Update

Cus - Warehousing of imported solar panels/solar modules - Instruction dated 9 th July 2022 appears to travel far beyond the advisory and clarificatory function which stands placed in the Board by virtue of s.151A of CA, hence quashed: HCCus - Petitioner had opted for conversion from a less rigorous procedure of availing Duty Drawback Scheme to a more rigorous procedure under Advance Authorisation Scheme and as per Circular 36/10-Customs, same was not possible: HCCX - Respondents cannot go beyond the Reward Scheme as no discretion is vested with them to release any amount towards the reward, before finalization of the proceedings against assessee: HCGST - Petitioner is given liberty to manually file an appeal against impugned order regarding transitional credit of SGST for which they had valid evidence for payment of VAT of same amount: HCGST - For the period for which return was filed, registration cannot be cancelled retrospectively: HCHas Globalisation favoured capital more than labour? Can taxing super-rich help?GST - SC asks Govt not to use coercion for recovering arrearsChanging Tax Landscape in IndiaPrivate equity funds pouring in India’s healthcare sectorInterpretation of StatutesGoogle, Microsoft move Delhi HC against order to erase non-consensual intimate images16th Finance Commission invites views from general public on terms of referenceEvery party committed to ensure PoK returns to India; Jaishankar695 candidates to contest LS elections in Phase 5Astronomers’ efforts lead to discovery of a rocky planet with atmosphereCSIR hosts Student-Science Connect program on Climate ChangeVolkswagen asks EU not to raise tariffs on EVs from ChinaI-T - Assessee given insufficient time to file reply to Show Cause Notice; assessment order quashed; matter remanded for reconsidering assessee's replies: HCChina blocks imports from Intel & QualcommI-T - Assessee has 5 email IDs & responded to communications received on one of these IDs; Assessee cannot claim to have been denied an opportunity of personal hearing before passing of order: HCRecord rainfall damages over 1 lakh homes in Brazil; over 100 lives lostI-T- Additions framed u/s 68 r/w Section 115BBE are unwarranted where assessee duly explains nature & source of cash receipts, through sufficient documentation: ITATRussia bombards Ukraine’s power supply; Serious outages fearedI-T- Re-assessment cannot be resorted to beyond 4 years from end of relevant AY, where assessee has not failed to file ITR or to make full & true disclosure of facts necessary for assessment: ITATIndia received foreign remittance of USD 111 bn in 2022, says UNI-T- Receipt of subscription fees can't be considered as commercial activity: ITATPitroda resigns as Chairman of Indian Overseas Congress over racist remarkST - In case of payment received through cheque, it is the date of honouring cheque, which has to be construed as date of receipt of advance payment and since amount was received by appellant on or after appointed date, appellant would not be entitle to benefit of exemption notification: CESTAT86 flights of AI Express cancelled as crew goes on mass sick leaveCus - When undervaluation of goods is alleged solely based on value of contemporaneous imports, all details relating to such imports are to be necessarily established by Revenue: CESTAT
 
Cus - In matters relating to FTP, it is always advisable to take opinion of authorities whose decision is final - Whether DEPB licence expires in middle of month or is valid till last date of month - Customs to seek opinion from office of DGFT in matter - Matter remanded: CESTAT

By TIOL News Service

MUMBAI, FEB 18, 2013: THE appellant submitted release advises on 28/12/2011 for clearance of goods under three DEPB licences all of which had been validated up to 10/12/2011. As per the provisions of Foreign Trade Policy 1997-2002, if the date of expiry of a DEPB licence falls before the last day of the month, then the DEPB shall be deemed to be valid till the last day of the said month. Since in the instant case the DEPB were originally issued in respect of the exports made during August, 1997, the appellant was of the view that the licences are valid till 31/12/2011 and on the day of importation, the licence was a valid one.

The Customs authorities were of the view that as per the provisions of 2004-2009 and 2009-2014 Foreign Trade Policy the licence should be valid on the date of debit and the provisions of 1997-2002 Policy has no application. Since in the present case the licence was presented on 27/12/2011 and the licence had already expired on 10/12/2011, the benefit of DEPB will not be available, held the Customs authorities.

The appellant preferred an appeal before the lower appellate authority but were unsuccessful and hence are before the CESTAT.

The Bench observed that the issue lay in a narrow compass and hence took up the appeal itself.

The CESTAT observed -

“3.1 The issue involves interpretation of Foreign Trade Policy of 2004-2009 and 2009-2014 regarding validity of the DEPB licence, i.e when the licence expires in the middle of a month, whether it is valid till the last day of the month or not as provided for in the 1997-2002 policy? In matters relating to Foreign Trade Policy, it is always advisable to take the opinion of the Foreign Trade authorities, whose decision is final. In the present case, we find that the Customs has not sought any opinion from the office of the DGFT in the matter. Accordingly, we are of the view that the matter should go back to the original adjudicating authority to refer the matter to the DGFT and seek their opinion in this regard and, thereafter, on the basis of advise received from DGFT, to dispose of the case finally. The appellants are also at liberty to take up the matter with the DGFT and seek their opinion and present their case before the Customs. Needless to say, the appellant shall be heard before passing the order.”

The appeal was thus allowed by way of remand.

(See 2013-TIOL-312-CESTAT-MUM)


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST