https://www.taxtmi.com/caselaws?id=395123 Where the country of origin of imported goods is conclusively verified, customs authorities cannot continue to retain bank guarantees furnished for provisional clearance. The importer had produced certificates of origin at import, and the foreign competent authority later confirmed the goods originated in Indonesia. Once that confirmation removed any dispute on origin, retention of the guarantees was no longer justified, and the provisional assessments under the Bills of Entry had to be completed. The operative effect is that verified origin under the preferential trade framework requires release of provisional security and finalisation of assessment. en-us Thu, 30 Apr 2020 00:00:00 +0530 Fri, 20 Nov 2020 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395123 Where the country of origin of imported goods is conclusively verified, customs authorities cannot continue to retain bank guarantees furnished for provisional clearance. The importer had produced certificates of origin at import, and the foreign competent authority later confirmed the goods originated in Indonesia. Once that confirmation removed any dispute on origin, retention of the guarantees was no longer justified, and the provisional assessments under the Bills of Entry had to be completed. The operative effect is that verified origin under the preferential trade framework requires release of provisional security and finalisation of assessment. Case-Laws Customs Thu, 30 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395123