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TMI Blog2019 (5) TMI 82X X X X Extracts X X X X X X X X Extracts X X X X ..... filed Bill of Entry No. 2296535 dated 03.07.2017 for import of 100 Gold Medallion of Purity 999.9, totaling Five Kgs. (each Medallion weighing 50 gms.) falling under Customs Tariff Heading (CTH) 71141910 of Customs Tariff Act, 1975, valued at Rs. 1,35,66,558/-. As per the aforesaid Bill of Entry, the said goods have been imported vide Invoice No. SHPCO170627 dated 27.06.2017 from Sunhak Produce Co. Ltd., 55, Dambang-ro, 21 Beon-Gil, Namdon-gu, Incheon, Korea [Vol.II; Pg. No. 72]. In the aforesaid Bill of Entry, the importer has claimed the benefit of Notification No. 152/2009, SI. No. 526 [Import from Republic of Korea under the Agreement between the Republic of India and Korea Rules, 2009], by which the BCD applicable is Nil. Further, as p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 111 (d) of Customs Act and why penalty under Section 112 of Customs Act, 1962 should not be imposed on the appellant. After following the due process, the Original Authority confiscated the 100 pieces of Gold Medallion under Section 111 (d) of the Customs Act, 1962 and thereafter gave the importer an option to redeem the goods under Section 125 of the Customs Act, 1962 on payment of Rs. 15 Lakh only for the purpose of re-export. The Original Authority also imposed a penalty of Rs. 15 Lakh under Section 112 of the Customs Act, 1962. Aggrieved by the said order, the appellant filed appeal before the Commissioner who vide the impugned order rejected the appeal. Hence, this appeal. 3. Heard both the parties and perused the records. 4. Learn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BCD at 15%. However, in the light of the (exemption to specified goods imported from Korea) vide Notification No. 152/2009-Cus dated 31.12.2009 as amended by Notification No. 66/2016 dated 31.12.2016 (exemption to specified goods imported from Korea) they are exempted from so much of duty leviable thereon as is in excess of the amount calculated at the rates specified in the corresponding entry in Column No.4 of the Table (Nil). To put it differently the BCD leviable on import of 'Articles of Gold' from Korea falling under Chapter 71141910 is Nil. He further submitted that the CVD leviable is 12.5% under CETA 1985, however, Notification No. 12/2012-CE dated 17.03.2012 SI. No. 192, is Nil and further Notification No. 12/2012-CE dated 17.03. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gation to export under the 20:80 scheme would apply to the unutilized gold imported before November 28,2014. ii. Nominated Banks and Nominated Agencies, as notified by DGFT, are permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payment. Nominated Banks are free to grant gold metal loans. iii. Star and Premier Trading Houses can import gold on document against Payment (DP) basis as per entitlement without any end use restrictions. 4.2. It is his further submission that in the present case, the importer has not imported gold on consignment basis and therefore is not required to be Nominated Agency or Nominated Bank. Further, he has not imported gold on DP basis and as such t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter considering the submissions of both the parties and perusal of the material on record, I find that the only allegations of the Department is that the appellant has imported the Gold Medallion of Purity 999.9 falling under CTH 71141910 of Customs Tariff Act, 1975 and the same is not permitted because the appellant is not a Nominated Bank or a Nominated Agency or a Holder of a Status of a Star/Premier Trading House. As per the RBI regulations, it is only the Nominated Bank and Nominated Agency as notified by DGFT which is permitted to import the said goods. Further, I find that it is not in dispute that the Gold Medallion of Purity 999.9 fall under CTH 71141910 of CETA 1975 and as per the Import Policy, the 'Articles of Gold' are classif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l rate of duty. Further, I note that same goods is being cleared at Delhi Airport at Nil rate of duty and the Bill of Entries have been placed on record proving the clearance at Nil rate of duty at Delhi Airport. The appellant has also relied upon the judgment of the Hyderabad CESTAT in his own case wherein the goods imported was Gold Granules of the same purity to submit that on the identical grounds the Tribunal in Appeal No. C/30812/2018 has allowed the appeal of the appellant. In view of my discussion above, I am of the considered opinion that the impugned order is not sustainable in law and therefore, I set aside the impugned order by allowing the appeal of the appellant with consequential relief, if any and direct the Customs Authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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