Informative

CESTAT Orders Reassessment of Rs. 95 Lakh Duty on Reimported Ferrari Car after Alleged Carnet Misuse

Update / Judgement Date

09 Oct 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against Order

The Customs, Excise & Service Tax Appellate Tribunal (CESTAT) ordered a reassessment of the ?95 lakh duty imposed on a Ferrari Italia 458 reimported into India after repairs in Dubai. The tribunal found that the confiscation of the vehicle and the fines imposed were unjustified, directing a reassessment of the duty.

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CESTAT Orders Reassessment of Rs. 95 Lakh Duty on Reimported Ferrari Car after Alleged Carnet Misuse

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