Duty free Imported inputs not consumed within three years

[P Ovhal]

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

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in this issue? If not please inform.

AI Summary

Duty free imported inputs: whether unconsumed inputs attract duty and when interest begins to run after the consumption period. Whether duty free imported inputs supplied to an Export Oriented Unit and unconsumed beyond the prescribed period attract liability for duty and interest, and whether interest is calculated from the inbonding/purchase date or from expiry of the three year consumption period.