Revenue not entitled to claim interest under Customs Act for provisionally assessed duty finalized later. The Appellate Tribunal CESTAT, Mumbai held that the Revenue cannot claim interest under Section 18(3) of the Customs Act for duty provisionally assessed ...
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Provisions expressly mentioned in the judgment/order text.
Revenue not entitled to claim interest under Customs Act for provisionally assessed duty finalized later.
The Appellate Tribunal CESTAT, Mumbai held that the Revenue cannot claim interest under Section 18(3) of the Customs Act for duty provisionally assessed in February 2000 and finalized in December 2007. The Tribunal ruled that any levy incidental to finalization of provisional assessment is governed by the law in force at the time of provisional assessment, and as the provision for interest came into force after the assessment, the assessee is not liable to pay interest. The appeal of the Revenue was dismissed.
The Appellate Tribunal CESTAT, Mumbai ruled that the Revenue cannot claim interest under Section 18(3) of the Customs Act for duty provisionally assessed in February 2000 and finalized in December 2007. The case cited established that any levy incidental to finalization of provisional assessment is governed by the law in force at the time of provisional assessment. Since the provision for interest came into force after the assessment, the assessee is not liable to pay interest. The appeal of the Revenue was dismissed.
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