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2014 (4) TMI 946 - KARNATAKA HIGH COURTRefund of amount recovered – Invocation of Bank guarantee - Discharge of Export Obligation - Free shipping bills and DEEC Shipping bills - Held that:- From the order passed by the first respondent and the Appellate Authority, it is clear, the bills produced by assessee are free shipping bills and not DEEC Shipping bills - Unless aseessee discharges his export obligation and produces discharge certificate from the competent authority, the petitioner cannot contend that Bank guarantee cannot be invoked – According to Paras 4.25 and 4.26 of the Handbook the license holder shall furnish EP copy of shipping bill(s) containing details of shipment effected or bills of export in case of export to SEZ - Before discharging BG/LUT against physical exports, the Customs shall verify that the details of the exports as given in the “Redemption Certificate” are as per their records. Assessee sought for conversion of free shipping bills into DEEC Shipping bills that has not been granted – Thus, Respondents 1 and 2 have invoked the Bank guarantee - As the Bank guarantee has already been invoked, it may not be appropriate to direct the Respondents 1 and 2 to refund the amount unless the petitioner produces the discharge certificate from the competent authority regarding discharge of export obligation - As and when the petitioner produces the discharge certificate, the Respondents 1 and 2 may consider refund of the amount which has been realised by invoking the Bank guarantee – Decided against assessee.
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