https://www.taxtmi.com/caselaws?id=392795 The court ruled in favor of the petitioner, a private limited company and approved SEZ unit, in a case challenging the demand for a bank guarantee of 25% of the IGST on re-exported goods. The court held that there was no legal basis for including IGST in the bank guarantee calculation as per the Integrated Goods and Services Tax Act, 2017. It quashed the communication insisting on the IGST-based bank guarantee and directed the respondents to permit re-export based on a bank guarantee of 25% of the customs duty, excluding IGST. The petitioner's request was deemed valid, and the court made the rule absolute without costs. en-us Wed, 29 Jan 2020 00:00:00 +0530 Mon, 17 Mar 2025 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392795 The court ruled in favor of the petitioner, a private limited company and approved SEZ unit, in a case challenging the demand for a bank guarantee of 25% of the IGST on re-exported goods. The court held that there was no legal basis for including IGST in the bank guarantee calculation as per the Integrated Goods and Services Tax Act, 2017. It quashed the communication insisting on the IGST-based bank guarantee and directed the respondents to permit re-export based on a bank guarantee of 25% of the customs duty, excluding IGST. The petitioner's request was deemed valid, and the court made the rule absolute without costs. Case-Laws GST Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392795