9911796707
TMI BlogAlert notice regarding duty evasion in respect of petroleum products.X X X X Extracts X X X X X X X X Extracts X X X X ..... cted. Verification of other records have brought to light instance of non-receipt of certain quantities of imported petroleum products in warehouse at destination and payment of only Excise Duty on the differential quantity. 2. A copy of the detailed note on manner in which the evasion occurred is enclosed for ready reference. 3. There is a possibility of similar practise being followed in other places as well for which you may initiate suitable action. A Report regarding action-taken and recoveries effected against any such case noticed under your jurisdiction may be forwarded to Board in fifteen days time. 4. Also, this may be brought to the notice of all your subordinate field formations with instructions for exercising checks agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g from Loni. While clearing the imported goods exbond bill of entry is prepared and duty is paid. The records of M/s HPCL, Loni has been verified by the staff of Customs Commissionerate, Pune and following major discrepancies have been noticed regarding exbond clearances and payment of Customs duty. i) the price declared in the warehousing bill of entry (declared by M/s IOC, Mumbai) have not been considered while preparing the exbond bill of entry and for payment of Customs duty. Infact, during the period 1994 to 1998 only 2 prices have been considered even though the price has varied with each consignment. For example in the case HSD the price considered during 1994 to 1996 for payment of duty was Rs. 4920 per KL, whereas the price decl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when the petroleum products (imported as well as indigenous) is cleared form Loni terminal for sale to the dealers or for inter depot transfer only the sales invoice showing payment of Excise duty is prepared. For imported goods they prepare exbond bill of entry and pay the duty but while removing from bonded area only sales invoice is prepared. The scrutiny has revealed that in number of cases the Excise duty shown on the sales invoice and recorded from the customers is much more than the additional duty of Customs (CVD) paid on exbond bill of entry. This situation has arisen because the assessable value (assessable value under Section 14 of the Customs Act + basic Customs duty + special Customs duty) taken for payment of CVD has been muc ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
