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The HC dismissed the petition challenging the order of the Settlement Commission imposing interest on delayed payment of customs duties under a valid notification. The petitioners had availed duty exemption on import subject to export obligations which were not satisfied. The HC upheld the constitutional validity of the notification stipulating payment of interest on duties payable from the date of clearance if export obligations were not met, as the exemption was conditional. The order imposing interest as per the notification's terms was a valid settlement that must be accepted in its entirety.
The HC dismissed the petition challenging the order of the Settlement Commission imposing interest on delayed payment of customs duties under a valid notification. The petitioners had availed duty exemption on import subject to export obligations which were not satisfied. The HC upheld the constitutional validity of the notification stipulating payment of interest on duties payable from the date of clearance if export obligations were not met, as the exemption was conditional. The order imposing interest as per the notification's terms was a valid settlement that must be accepted in its entirety.
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