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2023 (12) TMI 84 - CESTAT KOLKATANon-imposition of redemption fine and penalty on the respondent - Zero Duty EPCG Authorization - failure to fulfill the export obligation within a block of 4 years (under wrong impression) - HELD THAT:- In this case no doubt the respondent in terms of Notification, has failed to fulfill the export obligation within a block of 4 years, the respondent is required to pay 50% of duty along with interest @ 15% within 30 days from the expiry of each block, but the respondent was not aware of this condition as they were under an impression that they were required to fulfill the export obligation within a period of 6 years - But, as and when investigation started the respondent immediately paid duty and interest. Further, as per the condition of the Notification, the appellant is required to pay duty along with interest. In that circumstances, the adjudicating authority has rightly refrained from imposing redemption fine and penalty on the respondent. As the respondent has complied with the condition of the Notification, therefore, there are no infirmity in the impugned order. Appeal filed by Revenue dismissed.
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