The Supreme Court has recently dismissed a customs appeal pending before it in light of the Central Board of Indirect Taxes and Customs (CBIC) circular dated 02.11.2023 issued by the Ministry of Finance regarding increased monetary limits.
Arijit Prasad, appearing for the appellant-Department submitted that in view of the circular dated 02.11.2023 issued by Ministry of Finance, Department of Revenue Central Board of Indirect Taxes & Customs, the monetary limit for matters before the Supreme Court has been raised to Rs.2 Crores even in the cases pertaining to indirect taxes and customs.
He thus admitted that an appropriate order may be made in this appeal.
The Submission of counsel was placed on record.
Consequently, the appeal was dismissed on account of the aforesaid reason owing to law tax effect.
The two-judge bench of Justices B V Nagarathna and Prashant Kumar Mishra also added that pending application(s), if any, also stand disposed of.
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