https://www.taxtmi.com/caselaws?id=337665 Goods detained in transit may be released where the declaration understates value, if revenue is protected by a limited tax deposit on the understated value and a personal bond for the balance. The text notes that the declaration was found prima facie incorrect, but also records that the goods had been imported and an exemption certificate had been issued. It further states that any local tax liability was confined to 5% under the relevant Tamil Nadu VAT entry, not the higher rate in the notice. The operative effect is conditional release on deposit at 5% of the understated value and on furnishing a personal bond, with all merits left open. en-us Tue, 10 Jan 2017 00:00:00 +0530 Sat, 14 Jan 2017 06:40:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337665 Goods detained in transit may be released where the declaration understates value, if revenue is protected by a limited tax deposit on the understated value and a personal bond for the balance. The text notes that the declaration was found prima facie incorrect, but also records that the goods had been imported and an exemption certificate had been issued. It further states that any local tax liability was confined to 5% under the relevant Tamil Nadu VAT entry, not the higher rate in the notice. The operative effect is conditional release on deposit at 5% of the understated value and on furnishing a personal bond, with all merits left open. Case-Laws VAT and Sales Tax Tue, 10 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337665