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2017 (1) TMI 587 - AT - CustomsImposition of penalty u/s 114 of the Customs Act, 1962 - improper exportation of goods - GR declaration form - Held that: - Regulation 4 of the Foreign Exchange (Export of Goods and Services) Regulation, 2000 lists out various exemptions from furnishing GR declarations. One of the exemptions is given under 4(g), which covers goods imported free of cost on re-export basis. From a perusal of the relevant contracts, it is seen that the goods imported and subsequently re-exported would satisfy the above condition for waiver of GR declaration given in Regulation 4 (g). Consequently, there is no requirement of filing GR-declaration in respect of the present exports - penalty set aside - appeal allowed - decided in favor of appellant.
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