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2012 (8) TMI 55 - HC - CustomsImport of vessel - vessel was sent out of the territorial waters for the purpose of repairs – seizure of vessel – provisional release of vessel – petitioner liable to pay duty in respect of the modification/upgradation that has taken place which amount is computed on a provisional basis – Held that:- Petitioners would be required to pay duty assessed provisionally in the amount of Rs. 12.77 crores and for that purpose, they would be at liberty to avail of the credit – Bank guarantee reduced from 20% to 10%
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