Interest on delayed customs duty applies even for voluntary payment, subject to limited statutory exemption conditions. Interest is chargeable on delayed payment of customs duty by a person liable under section 28, in addition to the duty itself, whether payment is voluntary or follows determination of duty. The Central Government fixes the rate by notification within the prescribed statutory range, and the interest is calculated from the first day of the month succeeding the month in which the duty ought to have been paid, or from the date of erroneous refund, until the date of payment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed customs duty applies even for voluntary payment, subject to limited statutory exemption conditions.
Interest is chargeable on delayed payment of customs duty by a person liable under section 28, in addition to the duty itself, whether payment is voluntary or follows determination of duty. The Central Government fixes the rate by notification within the prescribed statutory range, and the interest is calculated from the first day of the month succeeding the month in which the duty ought to have been paid, or from the date of erroneous refund, until the date of payment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
