Subject to the petitioner depositing tax and 50% of penalty as well as furnishing security of remaining 50% of penalty, the goods and vehicle may be released in favour of the petitioner.
Section 129 of the CGST Act, 2017 — Goods in Transit —–The petitioner challenged the order dated 22.03.2021 passed by appellate authority. The counsel for the petitioner submitted that the goods were duly accounted for and accompanied by valid documents. The revenue authorities have committed an error in artificially distinguishing the identity of the goods and their valuation. Further, the valuation was increased, wholly contrary to law without following the express provisions of law. The petitioner is willing to deposit the amount of tax and penalty. The court observed that matter requires consideration.
Held that:- The Hon’ble High Court directed all the respondents four weeks’ time to file counter affidavit. Meanwhile, directed that subject to the petitioner depositing tax and 50% of penalty, as well as furnishing security of remaining amount of penalty other than cash and bank guarantee, within a period of two weeks, the goods and vehicle may be released in favour of the petitioner.
Subject to the petitioner depositing tax and 50% of penalty as well as furnishing security of remaining 50% of penalty, the goods and vehicle may be released in favour of the petitioner.
Section 129 of the CGST Act, 2017 — Goods in Transit —–The petitioner challenged the order dated 22.03.2021 passed by appellate authority. The counsel for the petitioner submitted that the goods were duly accounted for and accompanied by valid documents. The revenue authorities have committed an error in artificially distinguishing the identity of the goods and their valuation. Further, the valuation was increased, wholly contrary to law without following the express provisions of law. The petitioner is willing to deposit the amount of tax and penalty. The court observed that matter requires consideration.
Held that:- The Hon’ble High Court directed all the respondents four weeks’ time to file counter affidavit. Meanwhile, directed that subject to the petitioner depositing tax and 50% of penalty, as well as furnishing security of remaining amount of penalty other than cash and bank guarantee, within a period of two weeks, the goods and vehicle may be released in favour of the petitioner.