CESTAT allows 12% interest from date of encashment of Bank Guarantee till the date of refund

Leather Sellers Vs Commissioner of Customs And Excise, Patparganj (CESTAT Delhi) The brief facts are that the appellant is a manufacturer-exporter of leather goods. They had re-imported a consignment of goods, which were earlier exported for the purpose of repair etc. and thereafter, re­export. For such re-import, the appellant had filed Bill of Entry dated 10/06/2005 with undertaking to re-export within a period of six months as per Notification No. 158/95-Cus and for the said purpose, they have also submitted a re-export bond and also Bank Guarantee for Rs. 3,10,000/-. Accordingly, in terms...