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of <h1>Tribunal Orders Reduced Bank Guarantee for Goods Release at Port</h1> The Tribunal ordered the reduction of the bank guarantee bond for the provisional release of goods held in the Port awaiting Customs clearance. The ... Valuation of imported goods - enhancement of value based on NIDB data - provisional release of the goods which is lying in the Port for want of clearance from Customs - Held that:- Unless and until the evidence of the estimated price per piece is submitted to the importer or before the Bench by the Revenue, the appeal could not be taken as for final hearing. The bank guarantee shall be reduced to ₹ 20.00 Lakhs for Bill of Entry No. 3033470 and ₹ 15.00 Lakhs for Bill of Entry No. 3081944. The Bonds shall be executed for on the full value of the goods. The goods in question shall be released accordingly - appeal allowed. Issues:Provisional release of goods based on enhanced value without providing basis for enhancement.Analysis:The appeal was filed against an Order-in-Original by the Commissioner of Customs regarding the duty on impugned goods. The Adjudicating Authority had allowed provisional release of goods based on enhanced value without providing a clear basis for the enhancement. The value declared was increased using NIDB data obtained from DGOV, and the appellant's representatives argued that they were not provided with the basis for this enhancement. The DRI had inspected the consignment and recommended further enhancement of value, but the basis for this 'estimated price per piece' was not provided. The Department stated they had specific information about the price from the DRI, but it was not available at the time. The Tribunal considered the arguments from both parties and reviewed the available records.The appeal focused on the provisional release of goods that were held in the Port awaiting clearance from Customs. The Tribunal emphasized the importance of evidence regarding the estimated price per piece before the appeal could proceed to a final hearing. The appellant requested the reduction of the bank guarantee bond, and the Tribunal ordered the bank guarantee to be reduced to specific amounts for each Bill of Entry. The Bonds were to be executed for the full value of the goods, and the goods were to be released in accordance with the provisions of the Customs Act. The decision was dictated and pronounced in the Open Court by the Tribunal.
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