CESTAT Orders Reassessment of Rs. 95 Lakh Duty on Reimported Ferrari Car after Alleged Carnet Misuse [Read Order]

The Tribunal noted that the confiscation of the vehicle and the fines imposed were unjustified, and directed a reassessment
By Varda Marakkar - On October 9, 2024 4:17 pm - 2 mins read
CESTAT - CESTAT Bangalore - Ferrari Car - Reassessment on Ferrari Car - CESTAT Orders Reassessment on Ferrari Car - taxscan

In a recent ruling, the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) of Banglore ordered a reassessment of the Rs. 95 lakh duty imposed on a Ferrari Italia 458 reimported into India after undergoing repairs in Dubai. The tribunal’s decision comes after allegations that the appellant misused the Carnet de Passage (…

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