Interest on customs duty remains payable where goods were dutiable on warehousing even if later exempted. Interest on customs duty is payable where goods were dutiable at the time of initial warehousing, and such interest must be calculated with reference to the rate of duty assessed at warehousing. A subsequent exemption of duty does not automatically relieve the importer from interest liability accrued up to the date of exemption unless the interest is specifically waived under the proviso to Section 61(2) of the Customs Act, 1962.
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 customs duty remains payable where goods were dutiable on warehousing even if later exempted.
Interest on customs duty is payable where goods were dutiable at the time of initial warehousing, and such interest must be calculated with reference to the rate of duty assessed at warehousing. A subsequent exemption of duty does not automatically relieve the importer from interest liability accrued up to the date of exemption unless the interest is specifically waived under the proviso to Section 61(2) of the Customs Act, 1962.
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