https://www.taxtmi.com/caselaws?id=46716 Under the Value Based Advance Licence scheme, once the export obligation is shown to have been fulfilled, customs authorities cannot continue to withhold a bank guarantee merely because they are corresponding with licensing authorities. The record indicated that the import was not found objectionable and that the licensing clarification showed no adverse action was pending. Any alleged contravention of licence conditions is for the licensing authorities to examine under the policy framework, not for customs to secure retention of the guarantee after compliance is established. The bank guarantee was therefore ordered to be released. en-us Thu, 16 Oct 2003 00:00:00 +0530 Fri, 23 Jul 2010 14:10:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46716 Under the Value Based Advance Licence scheme, once the export obligation is shown to have been fulfilled, customs authorities cannot continue to withhold a bank guarantee merely because they are corresponding with licensing authorities. The record indicated that the import was not found objectionable and that the licensing clarification showed no adverse action was pending. Any alleged contravention of licence conditions is for the licensing authorities to examine under the policy framework, not for customs to secure retention of the guarantee after compliance is established. The bank guarantee was therefore ordered to be released. Case-Laws Customs Thu, 16 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46716