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2018 (2) TMI 1689 - AT - CustomsProvisional release of vessel - Sagar Fortune - whether condition imposed by the Ld. Commissioner i.e. bank guarantee of 30% of the estimated value is reasonable or harsh? - Held that: - bank guarantee should cover entire differential duty, redemption fine and penalties - In the present case, value of the goods estimated by the customs authority is ₹ 41.45 crore, accordingly differential duty amount (after payment of duty on the declared value) come to ₹ 3.62 crores. By taking this differential duty, the total amount as per the guidelines given in para 2.2 of Circular dated 16-8-2017 should be approximately not more than ₹ 10 Crores. Appeal disposed off.
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