https://www.taxtmi.com/caselaws?id=335930 Provisional release conditions for detained imported goods were examined in the context of alleged misdeclaration and re-determination of value. The requirement to pay the entire duty on the reclassified goods, furnish a bond for the full re-determined value, and provide a substantial bank guarantee was found to be overly onerous. A balanced approach was applied by preserving revenue protection through a bond while reducing the monetary security needed for release. The provisional release terms were therefore modified in favour of the importer, with the full differential duty demand waived, the bond condition retained, and the bank guarantee requirement reduced. en-us Fri, 16 Sep 2016 00:00:00 +0530 Tue, 13 Dec 2016 10:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335930 Provisional release conditions for detained imported goods were examined in the context of alleged misdeclaration and re-determination of value. The requirement to pay the entire duty on the reclassified goods, furnish a bond for the full re-determined value, and provide a substantial bank guarantee was found to be overly onerous. A balanced approach was applied by preserving revenue protection through a bond while reducing the monetary security needed for release. The provisional release terms were therefore modified in favour of the importer, with the full differential duty demand waived, the bond condition retained, and the bank guarantee requirement reduced. Case-Laws Customs Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335930