CESTAT Reduces Excessive Penalty Imposed for Confiscation of Prohibited Goods on Ground of Consideration of “Minimum Import Price” [Read Order]

By Shabna Rahim - On July 31, 2023 2:30 pm - 2 mins read
ESTAT - Reduces - Penalty - CESTAT Reduces Excessive Penalty - Excessive Penalty - Confiscation of Prohibited Goods - Prohibited - Goods - taxscan

The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) reduced the excessive penalty imposed for the confiscation of prohibited goods on the ground of consideration of Minimum Import Price.  Sterling Agro Products, the appellant assessee imported Arecanut with declared assessable value vide Bill of Entry and claimed exemption under Notification.  The…

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