Customs export permitted on bond alone, with bank guarantee not required pending final valuation assessment.

Valuation and assessment issues under the Customs Act were left for final consideration, but the Court granted interim permission to export the goods. It held that, at that stage, execution of a bond equal to the declared value was sufficient and declined to insist on a bank guarantee. The export benefits were made subject to the final decision in the matter, preserving the customs dispute while allowing the shipment to proceed.

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Issues: Whether the petitioner could be permitted to export the goods on furnishing a bond alone, without insisting on a bank guarantee, pending consideration of the customs dispute.

Analysis: The order records a prima facie view that the valuation and assessment issues arising under Sections 17 and 18 of the Customs Act, 1962 require to be followed and reply was called for. Taking note that the goods were to be exported and that the petitioner was willing to furnish a bond equal to the declared value, the Court granted interim permission to export the goods on execution of such bond. The Court declined the additional requirement of a bank guarantee at that stage and kept the export benefits subject to the final decision in the case.

Conclusion: The petitioner was permitted to export the goods on furnishing a bond equal to the declared value, and no bank guarantee was required at that stage.

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