Import Goods Seizure: Dispute Over Excessive Bank Guarantee for Misdeclared Origin; Appellant Willing to Pay Full Duties.

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....Seeking provisional release of seized imported goods - misdeclaration of origin of goods - the said goods appear to be of Iran origin and not Zambia - The present case stands at a better footing as the Appellant is agreeable to pay entire duty to secure provisional release of goods. As evident from the Bills of entry, the appellant was always willing to deposit the entire duty of BCD + IGST which is over 25 crores and therefore, the condition to direct the appellant to furnish a bank guarantee of 15% of the value of the goods which is over 100 crores is excessive and arbitrary more importantly when the appellant is willing to deposit the duty payable on the seized goods. - AT....