https://www.taxtmi.com/caselaws?id=4291 The High Court held that the bank guarantee for the difference in duty rates was not equivalent to payment of duty under the Customs Act. As the importer fulfilled the export obligation, the refund claim was not time-barred. The court emphasized the distinction between bank guarantees and duty payments, stating that section 27 on duty refund does not apply to bank guarantees securing export obligations. The court found that the export obligation was fulfilled, dismissing the appeal and connected petition without costs. This judgment clarifies the legal distinction and importance of fulfilling export obligations under the Customs Act. en-us Fri, 25 Jan 2008 00:00:00 +0530 Tue, 24 Jun 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4291 The High Court held that the bank guarantee for the difference in duty rates was not equivalent to payment of duty under the Customs Act. As the importer fulfilled the export obligation, the refund claim was not time-barred. The court emphasized the distinction between bank guarantees and duty payments, stating that section 27 on duty refund does not apply to bank guarantees securing export obligations. The court found that the export obligation was fulfilled, dismissing the appeal and connected petition without costs. This judgment clarifies the legal distinction and importance of fulfilling export obligations under the Customs Act. Case-Laws Customs Fri, 25 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4291