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of <h1>Customs Circular Clarifies Interest Calculation Date for Unused Imports Under Handbook Para 4.28: Use Last Import Date.</h1> The circular from the Commissioner of Customs (Export) at Jawaharlal Nehru Custom House clarifies the applicable date for calculating interest on excess imports under para 4.28 of the Handbook of Procedures, Vol. I. It states that interest on unutilized imported materials, due to incomplete export obligations, should be calculated from the date of the last import clearance. This applies unless there is a specific correlation between imports and exports. This clarification addresses doubts about whether to use the date of the first or last imports for interest calculation in cases of partial export obligation fulfillment.
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