2020 (1) TMI 704

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..... cepted notice on behalf of respondent nos. 1, 2 and 3 as well as Sri C. B. Tripathi, Advocate appearing as Special Counsel for the respondent nos. 2 and 3. Learned counsel for the petitioner has submitted that there is a provision under Rule 140 of the Central Goods and Services Rules, 2017 empowering the proper officer, which in the present case, is respondent no. 3 to release the seized goods o .....

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..... sed on a provisional basis upon execution of a bond for the value of the goods in FORM GST INS-04 and furnishing of a security in the form of a bank guarantee equivalent of applicable tax, interest and penalty payable. Explanation- For the purpose of the rules under the provisions of this Chapter, the "applicable tax" shall include central tax and State tax or central tax and the Union territory .....

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