Interest on unutilised imports: applicable date is clearance of last unutilised import unless correlation exists. Interest on unutilised imports under Advance Authorisation becomes due only when excess import occurs, and where multiple import dates exist with partial failure to meet export obligation, the surplus is treated as the later consignments. The applicable date for interest calculation is the date of clearance of the last imports that remain unutilised, unless a specific correlation between imports and exports is established.
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 unutilised imports: applicable date is clearance of last unutilised import unless correlation exists.
Interest on unutilised imports under Advance Authorisation becomes due only when excess import occurs, and where multiple import dates exist with partial failure to meet export obligation, the surplus is treated as the later consignments. The applicable date for interest calculation is the date of clearance of the last imports that remain unutilised, unless a specific correlation between imports and exports is established.
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