UNION OF INDIA vs COSMO FILMS LIMITED

The Supreme Court addressed appeals against a Gujarat High Court ruling that invalidated a mandatory pre-import condition in the Foreign Trade Policy for claiming IGST exemptions on imported goods. The court found that the High Court's decision to deem the condition arbitrary and unreasonable was not justified. Consequently, the Supreme Court reinstated the validity of the pre-import condition, emphasizing the importance of regulatory compliance in foreign trade.