Submission of the petitioners is that the goods were duly accounted for and accompanied by valid documents. The revenue authorities have committed an error of law in artificially increasing their valuation. Matter requires consideration.
Section 129 of the CGST Act, 2017 — Goods in Transit —–The petitioner submitted that the goods were duly accounted for and accompanied by valid documents. The petitioners are willing to deposit the amount of tax and penalty. It is further submitted that necessary satisfaction was not recorded to doubt the valuation. The court observed that the matter requires consideration. The counsel for the respondent prayed for and is granted four weeks' time to file counter affidavit.
Held that:- The Hon’ble High Court listed the matter thereafter and directed that gods may be released subject to the petitioners depositing the amount and furnishing security, to the satisfaction of the authority concerned, for the balance amount on the valuation assessed by the authority concerned, within a period of three weeks.
Submission of the petitioners is that the goods were duly accounted for and accompanied by valid documents. The revenue authorities have committed an error of law in artificially increasing their valuation. Matter requires consideration.
Section 129 of the CGST Act, 2017 — Goods in Transit —–The petitioner submitted that the goods were duly accounted for and accompanied by valid documents. The petitioners are willing to deposit the amount of tax and penalty. It is further submitted that necessary satisfaction was not recorded to doubt the valuation. The court observed that the matter requires consideration. The counsel for the respondent prayed for and is granted four weeks' time to file counter affidavit.
Held that:- The Hon’ble High Court listed the matter thereafter and directed that gods may be released subject to the petitioners depositing the amount and furnishing security, to the satisfaction of the authority concerned, for the balance amount on the valuation assessed by the authority concerned, within a period of three weeks.