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Issues: Whether the detained goods and vehicle were liable to be released on furnishing a bank guarantee for the tax and penalty found due and a bond for the value of the goods under Rule 140(1) of the CGST Rules.
Analysis: The petitioners' goods and vehicle were detained on an allegation of misclassification. The Court noted that an identical issue had already been considered in an earlier decision and applied that ratio to the facts of the case. On that basis, the Court directed release of the goods and vehicle on the specified security, namely a bank guarantee for the tax and penalty found due and a bond for the value of the goods in the form prescribed under Rule 140(1) of the CGST Rules.
Conclusion: The petitioners were entitled to release of the detained goods and vehicle on furnishing the stipulated bank guarantee and bond.
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