TMI Blog2017 (10) TMI 671X X X X Extracts X X X X X X X X Extracts X X X X ..... of subject Import. It is also pertinent to note that LC in normal course is never opened by High Seas Buyer for the reason that High Seas Buyer has no Locus Standi as regard payment of transaction of imported goods. It is between foreign supplier and original importer (High Seas Seller) of the imported goods - the benefit of transitional arrangement in terms of para 1.5 of Foreign Trade Policy was clearly available to the Respondent - appeal dismissed - decided against Revenue. - C/461/09 - A/89644/17/SMB - Dated:- 21-9-2017 - Shri Ramesh Nair, Member (Judicial) Shri K.M. D Souza, Asstt. Commr. (A.R.) for Appellant Shri Anil Balani, Advocate for respondent ORDER The brief facts are that M/s Asian Granito India Ltd. p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otification No.41 (RE-2008) dt. 18.09.2008. Accordingly he has extended the transitional arrangements as provided under para 1.5 of Foreign Trade Policy. Ld. Commissioner also considered the application to the DGFT authorities for the approval of transitional arrangements. Being aggrieved by the Order-in-Appeal the revenue filed the present appeal. 2. Shri K.M. D souza, Ld. Assistant Commissioner (A.R.) appearing on behalf of revenue reiterates the grounds of appeal. He Further submits that the LC in relation to the relevant imports was opened by M/s Asian Granito India Ltd. and not by the Respondent. The transitional provisions of para 1.5 of Foreign Trade Policy is not available to the respondent consequently the Respondent should have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orce in ground for denying basic provision of para 1.5 of Foreign trade Policy. The objective of allowing transitional arrangements is only on he basis that if LC issued before issuance of Notification to avoid the retrospective effect of such Notification. It is not significant who has opened the LC, the important aspect is the LC in respect of subject Import. It is also pertinent to note that LC in normal course is never opened by High Seas Buyer for the reason that High Seas Buyer has no Locus Standi as regard payment of transaction of imported goods. It is between foreign supplier and original importer (High Seas Seller) of the imported goods. Therefore the Revenue s contention that LC should have been opened by the Respondent being Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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