Relief to Bank of Nova Scotia: CESTAT Quashes Approx. 13.5 crores Customs Duty Demand on Nominated Agency for Gold or Silver Import on ground of Non-violation of Conditions of Exemption Notification [Read Order]

Relief - Relief to Bank of Nova Scotia - Bank of Nova Scotia - CESTAT - Customs Duty Demand - taxscan

The Kolkata bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) granted relief to the Bank of Nova Scotia by quashing the Customs duty demand of approximately 13.5crores on the ground of non-violation of conditions of exemption notification.  The Bank of Nova Scotia, the appellant assessee was a ‘Nominated Agency’ under the Foreign…

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