A division bench of the Gujarat High Court comprising Justice JB Pardiwala and Justice Nisha Thakore has recently issued a writ directing the Assistant Commissioner of CGST and Central Excise to initiate and complete the final assessment proceedings concerning the Applicant company and further release the Bank Guarantees in favour of the Applicant within two months.
The Applicant company had also shown monetary losses worth INR 96,87,616 due to the bank guarantee charges and claimed compensation for the same in its writ application.
The Applicant, Modern Syntex (I) Ltd, in pursuance of the EPCG license, had through its manufacturing unit ie Modern Petrofils imported various items between 1995 and 1997 for which the Bills of Entries were provisionally assessed and the goods were cleared for consumption. However, the Bills of Entries awaited final assessment.
The grievance of the writ-applicant is that the final assessment proceedings are yet to be undertaken. No final assessment order has been passed till this date.
Allowing the petition, the Court expressing concern in the delay that has occurred in the present litigation in finalizing the assessment proceedings, directed the Assistant Commissioner of Central Excise, Vadodara to immediately take up the matter and see to it that the assessment proceedings are concluded finally with an appropriate order of assessment in accordance with law within a period of two (02) months from the date of the receipt of the writ of this order.
“If the Assistant Commissioner of Central Excise, Vadodara is in need of any documents to finalize the assessment proceedings, then it may intimate the writ-applicant at the earliest to furnish such documents. If the writ-applicant receives any such intimation, it shall act promptly for effective and expeditiously disposal of the assessment proceedings,” the Court said.
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