This Appendix IV will contain a revised list of countries, which are parties to the “Montreal Protocol on substances that deplete the Ozone layer.” This is read with reference to Import Licencing Note of Chapter 29 in ITC (HS) Classifications of Export and Import Items, 2004-2009.
Clarification has been sought as to whether 10% Bank Guarantee is to be insisted upon in the case of those show cause notices involving an issue which has already been decided against the revenue and department has preferred appeal against such decision. The issue has been considered in the Board. If the decision of the Tribunal is in favour of the assessee, strictly speaking, no duty is payable, notwithstanding the fact that Department has preferred appeal.
