No Penal Action for Bonafide Mistake on EPCG License: CESTAT Kolkata

Commissioner of Customs (Port) Vs Aurora Fine Arts (CESTAT Kolkata) In the case of Commissioner of Customs (Port) Vs Aurora Fine Arts, the CESTAT Kolkata has ruled that no penalty action is required when there is a bonafide mistake on an EPCG license. The assessee, after realizing the mistake in declaring the value correctly while filing the Bill of Entry, voluntarily paid the differential duty along with interest. The CESTAT concluded that the mistake was bonafide and no penal action should be taken against the assessee. FULL TEXT OF THE CESTAT KOLKATA ORDER The appellant is in appeal against...