Penalty and Redemption Fine Cannot be Imposed When Bill of Entry has been Finally assessed at Declared Value: CESTAT [Read Order]

By Yogitha S. Yogesh - On June 18, 2023 5:15 pm - 2 mins read

Penalty and Redemption Fine - Penalty - Redemption Fine - Bill of Entry - Declared Value - CESTAT - Penalty and Redemption Fine Cannot be Imposed - Taxscan

The Mumbai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that penalty and redemption fines cannot be imposed when the bill of entry has been finally assessed at the declared value. Kumar Impex, the appellant has imported ‘PU coated fabric’ (thickness 0.50 mm +/- 10%) vide Bill of Entry dated…

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