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2016 (9) TMI 174 - AT - CustomsDemand of differential duty - Section 110A of the Customs Act, 1962 provisional release of goods execution of bond security in the form of bank guarantee equal to 25% of value of seized goods seeking of provisional release on the basis of bond and bank guarantee only Held that: - provisional release of the goods is allowed on execution of Bond for the value of the goods and on furnishing a Bank Guarantee only in case where matter is pending for adjudication. Since confiscation of the goods has not yet concluded, therefore, the Bond for full value of the goods and Bank Guarantee of 25% is required. After the assessment of the Bill of Entry, the release cannot be allowed without payment of duty as assessed in the Bill of Entry in addition to execution of Bond for the full value of the goods and furnishing of Bank Guarantee for 25% - conditions imposed for provisional release upheld appeal disposed off decided against appellant.
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