Minimum Import Price Paid On Prime Pre-painted Steel Coils; CESTAT Quashes Redemption Fine, Penalty

The Chandigarh Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the minimum import price (MIP) paid on prime pre-painted steel coils is not payable; therefore, a redemption fine and penalty are not payable.The bench of S. S. Garg (Judicial Member) has observed that the appellant has already paid the Minimum Import Price (MIP) for the goods as fixed...