9911796707
TMI Blog2019 (5) TMI 1716X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that once the goods is re-exported the custom duty, if any, stand neutralized, therefore, to secure the interest of Revenue particularly in this case where the goods have to be re-exported, the quantum of bank guarantee decided by the Commissioner is exorbitant. As the SCN was issued, the quantum of duty as per revenue was worked out to ₹ 5,15,61,820/- hence the appellant is required to furnish Bank guarantee of ₹ 1,29,00,000/- i.e. 25% of duty. The appellant needs to execute the bond for 100% of the value of the goods. Appeal allowed - decided in favor of appellant. - Customs Appeal No. 10724 of 2019-DB - FINAL ORDER NO. A/10848/2019 - Dated:- 3-5-2019 - HON'BLE MEMBER (JUDICIAL), MR. RAMESH NAIR AND HON& ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I1460: 2005. Indian standard ISI 1460:2005 provides for classifying the product as HSD. In the IOCL report dated 14.08.2018 only 14 were decided out of 21 specifications for coming to the conclusion whether the impugned goods were HSD of not, therefore, there is no conceivable reason as to why the appellant s request for retesting of all the parameters has not been acceded to. He further submits that now the SCN has already been issued which will be defended by the appellant before the adjudicating authority. At this stage, the appellant has requested for re-export of the goods, therefore, there is no impact of custom duty despite this the appellant is ready to give bank guarantee of 25% of the duty amount. In this regard, he relied upon th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Commissioner is exorbitant. The identical issue has been considered by the Jurisdictional High Court in Zip Zap Exim Pvt. Ltd. (supra) wherein the re-export of the goods were allowed on furnishing of bank guarantee of 25% of the duty amount accordingly, we following the ratio of Gujarat High Court judgment reduce the amount of Bank Guarantee to 25% of the duty involved in the consignment to be re-exported. As the SCN was issued, the quantum of duty as per revenue was worked out to ₹ 5,15,61,820/- hence the appellant is required to furnish Bank guarantee of ₹ 1,29,00,000/- i.e. 25% of duty. The appellant needs to execute the bond for 100% of the value of the goods. Accordingly, the appeal is allowed in above terms. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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