TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Court orders expeditious release of goods for export, petitioner to provide bond equal to seized goods' value.</h1> <h3>VEER IMPEX Versus UNION OF INDIA & 2</h3> The Court ordered the expeditious release of the petitioner's goods for export within a week, subject to the petitioner furnishing a bond equal to the ... Duty drawback - Circular No.1/2011-Customs dated 4.11.2011 and Circular No.30/2013-Customs dated 5.8.2013 - Under weighing of goods - Held that:- Circulars require exporter to execute a bond of an amount equal to the value of goods and furnish appropriate security in order to cover the redemption fine and penalty in case goods are found to be liable to confiscation. We have directed the petitioner to furnish bond of 100% value of the goods. Therefore, our order is in consonance with the Circulars issued by the Customs Department - goods of the petitioner shall be released for export expeditiously preferably within a period of one week from the date of copy of this order is produced before respondent No.2 provided the petitioner furnishes bond equal to the amount of seized goods other than cash and bank guarantee. - Decided conditionally in favour of assessee. Issues:Claim of duty drawback under different customs headings, discrepancy in weight of exported material, compliance with Circulars requiring bond for goods.Analysis:The petitioner claimed duty drawback under Chapter Heading 7318, while the respondents claimed under Chapter Heading 7308. There was a discrepancy in the weight of the material to be exported. The petitioner agreed not to claim duty drawback until the matter was resolved. The Court noted Circulars requiring exporters to provide a bond equal to the value of goods. The petitioner was directed to furnish a bond of 100% value of the goods, aligning with the Circulars issued by the Customs Department.The Court ordered the expeditious release of the petitioner's goods for export within a week, subject to the petitioner furnishing a bond equal to the seized goods' value. The directive was to be enforced by the authority. The judgment was delivered by the Acting Chief Justice. The petition was disposed of with permission for direct service.In conclusion, the judgment resolved the dispute over duty drawback claims and weight discrepancies in exported material. It emphasized compliance with Circulars mandating a bond for goods, ensuring the petitioner's goods were released for export promptly upon bond submission.
TaxTMI 
TaxTMI 
