The Telangana High Court has stayed the demand in the petition challenging tariff notifications imposing fixed rate of tariff on imports of gold findings.
The bench of Justice Sujoy Paul and Justice Namavarapu Rajeshwar Rao has granted a stay on demand raised for alleged non-payment of Customs Duties as per Tariff Notifications.
Table of Contents
Background
The petitioners/assessee has already declared assessable value as Rs.8,70,37,797 and paid total custom duty at the rate of 14.33% to the tune of Rs.1,24,72,516.
As per the demand, the petitioners need to pay a difference to the tune of Rs.6,06,044. This difference is arising out of the notification, which is bad in law, because the respondent/department failed to provide the tariff value on the purity of gold.
In the present batch of Petitions, the petitioner has challenged the Tariff Notifications imposing a fixed rate of tariff on Imports of Gold Findings regardless of the purity of Gold Content. Subsequent OIOs issued relying on Notifications.
Conclusion
The court has held the sizeable amount already paid by the petitioner(s) and since prima facie case is made out, subject to hearing the other side, till the next date of hearing, no coercive action be taken against the petitioners.
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Case Details
Case Title: M/s. SR Jewellery House Versus Union of India
Case No.: WP 22805/2024
Date: 07/11/2024
Counsel For Petitioner: Rusheek Reddy K V
Counsel For Respondent: Dy. Solicitor Gen. Of India Gadi Praveen Kumar
