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Evasion of Central Excise duty to the tune of Rs. 45,79,291/- by ICICI Bank Anti Evasion Unit, Commte of Central Excise, Kolkata-I
August, 29th 2012
                                  GOVERNMENT OF INDIA
                     OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE
                     ANTI-EVASION UNIT: KOLKATA-I COMMISSIONERATE
  KENDRIYA UTPAD SHULK BHAWAN : 180, SHANTIPALLY, RAJDANGA MAIN ROAD, KOLKATA ­ 700 107.

                                      FAX MESSAGE

                             INCIDENT REPORT NO. 3 /2012

ACTING ON AN INFORMATION, OFFICERS OF HDQR. ANTI EVASION UNIT OF THIS COMMISSIONERATE
INVESTIGATED THE MANUFACTURE AND CLEARANCE WITHOUT PAYMENT OF DUTY ON CUSTOMISED
GOLD COINS BY M/S ICICI BANK LTD. HAVING ITS HEAD OFFICE AT ICICI BANK TOWERS, BANDRA-KURLA
COMPLEX, MUMBAI ­ 400051[.] DURING INQUIRY IT REVEALED THAT M/S ICICI BANK LTD. HAVE
MANUFACTURED BRANDED GOLD COINS THROUGH JOB-WORKER FOR THEIR CORPORATE CUSTOMERS
AND SOLD/ REDEEMED THROUGH THEIR BRANCHES LOCATED THROUGHOUT INDIA DURING 01.03.2011
TO 16.03.2012 WITHOUT PAYMENT OF DUTY VIOLATING NOTIFICATION NO. 01/2011-CE DATED
01.03.2011 AS AMENDED AND THEREBY EVADED CENTRAL EXCISE DUTY TO THE TUNE OF RUPEES
45,79,291=00 (AS PER THEIR SUBMITTED DOCUMENTS)[.] RULE 12AA OF THE CENTRAL EXCISE RULES,
2002 OF THE RELEVANT PERIOD ENVISAGES LIABILITY OF PAYMENT OF DUTY ALONGWITH OBSERVANCE
OF CENTRAL EXCISE PROCEDURES ON THE PART OF EITHER JOBWORKER OR THE BRAND OWNER[.] M/S
ICICI BANK LTD. BEING THE BRAND OWNER HAVE ADMITTED THE FACTS AND IMPLICATION AND PAID AN
AMOUNT OF RUPEES. 53,08,600=00 TOWARDS THEIR DUTY LIABILITY INCLUDING INTEREST OF RUPEES
7,29,309=00 THROUGH E-PAYMENT[.] FURTHER INVESTIGATION IS IN PROGRESS [.]

                                                         (S. K. DAS)
                                                       COMMISSIONER
                                                 KOLKATA-I COMMISSIONERATE.





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