Interest calculation under section 47: the statutory short payment period starts from assessment finalisation after vessel entry. Where a Bill of Entry is assessed before the vessel's entry inward, the operative date for calculating the interest period under section 47 is the date on which assessment is completed upon submission of the Bill of Entry to the Customs House after entry inward has been granted to the vessel; the short payment period for interest is computed from that date of finalisation of assessment.
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Provisions expressly mentioned in the judgment/order text.
Interest calculation under section 47: the statutory short payment period starts from assessment finalisation after vessel entry.
Where a Bill of Entry is assessed before the vessel's entry inward, the operative date for calculating the interest period under section 47 is the date on which assessment is completed upon submission of the Bill of Entry to the Customs House after entry inward has been granted to the vessel; the short payment period for interest is computed from that date of finalisation of assessment.
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