The Respondents are directed to release the entire seized quantity of 48.36 lakhs kgs of Areca Nuts, subject to the Petitioner furnishing a bank guarantee
Section 129 of the CGST Act, 2017 — Goods in Transit – The Petitioner sought directions to the respondents to release the seized goods along with the books of account. The Petitioner also challenged the letter dated 19th July, 2021 whereby it was required to deposit Rs. 1,32,51,87,300/- or Rs. 6,62,59,365/- along with penalty of Rs. 99,38,904/- as a condition for release of goods. The counsel for the Petitioner stated that eighteen suppliers have been found to be genuine and a quantity of 17.12 lakhs kgs goods of the petitioner have been found to be tax paid. The counsel further submitted a proposal for release of seized goods against a bank guarantee for the balance seized quantity.
Held that:- The Hon’ble High Court directed the Respondents to release the entire seized quantity of 48.36 lakhs kgs of goods subject to the Petitioner furnishing a bank guarantee without prejudice to its rights for 31.24 lakhs kgs (being 48.36 lakhs kgs - 17.12 lakhs kgs).
The Respondents are directed to release the entire seized quantity of 48.36 lakhs kgs of Areca Nuts, subject to the Petitioner furnishing a bank guarantee
Section 129 of the CGST Act, 2017 — Goods in Transit – The Petitioner sought directions to the respondents to release the seized goods along with the books of account. The Petitioner also challenged the letter dated 19th July, 2021 whereby it was required to deposit Rs. 1,32,51,87,300/- or Rs. 6,62,59,365/- along with penalty of Rs. 99,38,904/- as a condition for release of goods. The counsel for the Petitioner stated that eighteen suppliers have been found to be genuine and a quantity of 17.12 lakhs kgs goods of the petitioner have been found to be tax paid. The counsel further submitted a proposal for release of seized goods against a bank guarantee for the balance seized quantity.
Held that:- The Hon’ble High Court directed the Respondents to release the entire seized quantity of 48.36 lakhs kgs of goods subject to the Petitioner furnishing a bank guarantee without prejudice to its rights for 31.24 lakhs kgs (being 48.36 lakhs kgs - 17.12 lakhs kgs).