If Duty free Imported inputs not consumed within three years by any EOU,
Then,
1) Under which notification it's value attract to paid Duty with interest?
2) from which date we calculate the interest ? .... a) from Date of Purchase (Inbonding) e.g. 01/04/2010 or b) after three years form the date of Purchase (Inbonding) e.g. 01/04/2013.
Regards,
Pradeep
Clarification Needed on Duty-Free Import Rules for EOUs: Interest Calculation from Purchase Date or After Three Years? A query was raised regarding the duty-free import of inputs by an Export Oriented Unit (EOU) that are not consumed within three years. The questions posed were about the specific notification under which duty and interest must be paid and the correct date from which interest should be calculated-either from the date of purchase or three years after purchase. A respondent inquired if the issue had been clarified, indicating a need for further discussion or information. (AI Summary)
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