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2016 (10) TMI 192 - CESTAT NEW DELHIQuantum of Bank Guarantee - amount of bank guarantee reduced to 5% - financial hardship - provisional release of goods on furnishing of B-11 bond - Is the reduction in the amount of Bank Guarantee justified? - Held that: - it is only a typographical discrepancy. The decision in the case of CC & Ors. Vs. M/s Navshakti Industries Pvt. Ltd. & Anr. 2011 (5) TMI 149-Supreme Court and CESTAT referred, where it was held that the bank guarantee amount deserves to be reduced to 5% of the value of the goods as at the time of release of goods in any case the assessee has to pay full amount of duty - provisional release of goods ordered with modification that the bank guarantee of 5% of the value of the goods only to be furnished - appeal allowed - decided in favor of appellant.
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