CESTAT reduces Floor Limits of Bond and Bank Guarantee prescribed for allowing Provisional Release of Confiscated Goods [Read Order]

CESTAT - Floor Limits - Bond - Bank Guarantee - Confiscated Goods - taxscan

The Mumbai bench of Customs, Excise and Service Tax Appellate Tribunal has reduced floor limits of bond and bank guarantee prescribed for allowing the provisional release of confiscated goods. The appellant, Amglo Resources Pvt Ltd entered into negotiations with M/s NBJ International FZ-LLC, Dubai for the supply of ‘copper cathode’ conforming to LME Grade “A”….

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