CESTAT Chennai Sets Aside Custom Duty Demand as Goods Were Provisionally Assessed

Ankit Impex Vs Principal Commissioner of Customs (CESTAT Chennai) M/s. Ankit Impex and M/s. S.B.B. International imported goods declared as “Recycled LDPE Granules” under various Bills of Entry, including Bill of Entry No. 268168 dated 22.07.2009. The goods were classified under CTI 39019090 and cleared on provisional assessment upon execution of bond, with payment of Basic Customs Duty at 5% under exemption Notification No. 21/2002, along with Education Cess and CVD, aggregating to 18.624%. Based on specific intelligence alleging undervaluation of plastic reprocessed granules by certain i...