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Who is liable to pay duty on goods lost in case the lost goods were obtained under Chapter X procedure?

April 26, 2017Case Chapter duty liable Lost obtained pay procedure

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Who is liable to pay duty on goods lost in case the lost goods were obtained under Chapter X procedure?

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Buyer / Consignee of the goods is liable to pay duty on goods not properly accounted for. 62. Is cenvat reversal necessary if final products are cleared under Notification 34/2001 CE (NT) dated 21.06.2001. Yes. Cenvat credit on inputs has to be reversed, if final products are cleared under the said Notification.