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2019 (4) TMI 1702 - AT - CustomsProvisional release of goods - Section 110(1) of the customs Act, 1962 - Seizure of goods on the belief that the goods have been imported in contravention of the SAFTA Provisions - HELD THAT:- From the certificates accompanying the consignment, it is noted that the value addition norms have been certified by the Export Promotion Bureau of Bangladesh. The Export Promotion Bureau of Bangladesh has also issued certificates dated 30/10/2018 and 01/11/2018 signed by its Director covering the seven consignments. The benefit claimed has been supported by the necessary certificate; however, we take note of the fact that the Directorate of Revenue Intelligence has seized the goods covered in these consignments and are in the process of carrying out further investigations. Goods being of perishable nature, are required to be Provisional released in terms of Section 110A ibid. The Transaction value declared in the Bills of Entry is much higher. The amount of bond may be determined on the basis of tariff values at the relevant time. Bank guarantee/Security in addition to bond for provisional release - HELD THAT:- The imported consignments have been accompanied by the necessary documents. Nothing on record indicates that the investigating Agency is considering such documents as forged or otherwise suspicious. If the benefit of the Notification is granted, no duty would be payable. The ends of justice will be met by execution of bond for 100% value of goods (determined on the basis of tariff value) with Bank guarantee for an amount of 20% of the applicable duties based on Tariff value. Appeal disposed off.
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