Provisional assessment interest not recoverable for periods before 13.07.2006, as later statutory provision applied only prospectively.

Interest was treated as not recoverable on duty arising from finalization of provisional assessment for the period before 13.07.2006, because earlier Tribunal decisions had already held that no interest was payable on such duty. The later insertion of Section 18(3) of the Customs Act, 1962 was noted as operating only from 13.07.2006, so it did not govern the earlier period. The appeal was therefore rejected.

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Issues: Whether interest was recoverable on duty arising from finalization of provisional assessment for the period prior to 13.07.2006.

Analysis: The issue was treated as covered by earlier Tribunal decisions holding that no interest was payable on duty arising out of provisional assessment, and the later statutory provision under Section 18(3) of the Customs Act, 1962 was noted as applicable from 13.07.2006.

Conclusion: Interest was not recoverable for the period prior to 13.07.2006, and the appeal was rejected.

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