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2008 (9) TMI 255 - AT - CustomsFurnishing of security in the shape of bank guarantee, or otherwise, has to be treated as payment of duty in anticipation of the finalization of the duty liability, and the same cannot be regarded as pre-deposit within the meaning of Section 129E of the Customs Act – amount which stands appropriated on the discharge of security furnished by the importer at the time of provisional assessment u/s 18(1) cannot be treated as pre-deposit within meaning of Section 129E - Payment by way of appropriation of security/bank guarantee has to treated as payment of duty, so any amount found payable or refundable would be subject to S. 27 ibid including those relating to time limit for claiming refund and unjust enrichment
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