Interest on warehoused goods is chargeable where customs duty is discharged by debit under DEPB scrips. Debits under the DEPB Scheme constitute payment of the basic and additional customs duties for goods cleared from warehouse rather than an unconditional exemption; because the duty element must be debited from DEPB scrips, the statutory interest chargeable on warehoused goods applies where duty is discharged by DEPB debit. Amendments permitting Cenvat credit or duty drawback for duties debited under DEPB and requirements to debit education cess and special CVD support treating the debited duty as payable for interest purposes.
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 warehoused goods is chargeable where customs duty is discharged by debit under DEPB scrips.
Debits under the DEPB Scheme constitute payment of the basic and additional customs duties for goods cleared from warehouse rather than an unconditional exemption; because the duty element must be debited from DEPB scrips, the statutory interest chargeable on warehoused goods applies where duty is discharged by DEPB debit. Amendments permitting Cenvat credit or duty drawback for duties debited under DEPB and requirements to debit education cess and special CVD support treating the debited duty as payable for interest purposes.
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