Q. > Please Help: Goods imported under CN/N 153/93

524 views • Question added Jun 20, 2015 • Excise • By C P Agrawal , CA , East Delhi

The Assessee (Software Technology Park) imported duty free goods (DG Set) under custom notification no 153/93 for the purpose of using it in custom bonded private warehouse on conditions stipulated under the above said notification.

However on the other hand the total premises of the assessee was declared Non Performing Assets. The premises was auctioned by Asset Recovery Company by the orders of Debt Recovery Tribunal and the goods so imported were ultimately transferred to the auction purchaser (AS IS WHERE IS OR WHATEVER THERE IS BASIS) resulting in non compliance of the conditions stipulated in the notification.

Excise department issued a show cause notice to deposit the duty and the interest amount to the assessee.

Whether the company is required to deposit the duty which was foregone under the said notification or it shall be passed on to the auction purchaser to whom the goods were transferred as the premises were transferred by the orders of Tribunal and not deliberately and also on AS IS WHERE IS OR WHATEVER THERE IS BASIS?