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2023 (3) TMI 452 - CESTAT BANGALOREConditions / Security for Provisional release of the goods - mis-classification of goods - Toughened Glass Top (Part of Gas Stove) - whether the conditions imposed for the provisional release order by the adjudicating authority and upheld by the Ld. Commissioner(appeals), particularly the quantum of bank guarantee/ cash deposit and other conditions imposed to safeguard the interest of Revenue pending adjudication on the face of the allegation of mis-classification of ‘Toughened Glass Top – Part of Gas Stove’ is too harsh and warrants modification? HELD THAT:- At this stage, learned advocate for the appellant, on instruction, submitted that the Appellant since incurring heavy warehousing charges for the last one year, are willing to deposit the differential duty and execute bank guarantee / security deposit of Rs.3,00,000/-; also they have no objection to execute B-1 Bond for the estimated value of Rs.39,64,262/- as conditions for provisional release of the goods. In our considered opinion, keeping in view the principles of law settled in this regard, furnishing B-1 Bond for the estimated value of Rs.39,64,262/-, bank guarantee/cash deposit of Rs.3.00 lakhs, and deposit of the differential duty at the time of provisional release of goods would sufficiently safeguard the interest of revenue and meet the ends of justice. Accordingly, the impugned order is modified to the extent that on execution of B-1 Bond for the estimated value of Rs. Rs.39,64,262/-, furnishing of bank guarantee/cash deposit for Rs.3.00 lakhs and on deposit of differential duty by the Appellant, the adjudicating authority shall release the goods provisionally forthwith pending adjudication of the case. Appeal disposed off.
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