2011 (1) TMI 404 - HC - Customs

Exemption - Notification 30/2004-CE dated 09.07.2004 - In view of the similar orders passed by this Court in a case of (M/s.Shiv Shanti Exim Pvt. Ltd V. The Commissioner of Customs),the exemption cannot be granted - The respondents are directed to release the goods concerned, in respect of the above said Bills of Entry, subject to the condition that the petitioner furnishes a bank guarantee for the entire value of Additional Duty of Customs - Hence, when the bank guarantee is furnished, the respondents shall release the goods, forthwith.

Summary

The High Court of Madras passed a judgment regarding a writ petition seeking direction to assess silk yarn covered by a specific Bill of Entry for duty exemption. The court denied the exemption but directed the release of goods upon furnishing a bank guarantee for the full duty amount. The petitioner was to provide the guarantee until the adjudication process was completed, after which the goods would be released. The writ petition was ordered accordingly with no costs. (2011 (1) TMI 404 - MADRAS HIGH COURT)