CESTAT Kolkata Restores Nominal Penalty on Visa Resources India

Visa Steel Ltd Vs Commissioner of Customs (Preventive) (CESTAT Kolkata) A recent order from the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata, has restored the original penalty against M/s. Visa Resources India Limited, now known as Visa Steel Ltd., in a dispute over the finalization of provisionally assessed Bills of Entry. The company had 16 consignments of imported goods between 2011 and 2015, with eight Bills of Entry remaining provisionally assessed. The Adjudicating Authority, after considering the facts, imposed a penalty of Rs. 20,000 on the company for the non-f...