https://www.taxtmi.com/caselaws?id=82552 The Tribunal clarified that interest collected illegally under Section 27 of the Customs Act must be refunded, emphasizing the distinction between duty and interest. Goods exempted under the DEEC Scheme are not liable for interest unless conditions are breached, leading to recovery of duty and interest. Liability to pay duty on warehoused goods is determined at removal, with no duty while in the warehouse; interest is calculated based on the principal amount upon clearance. The Tribunal dismissed the Reference Applications, upholding decisions based on legal provisions and precedents. en-us Wed, 04 Mar 1992 00:00:00 +0530 Tue, 05 Jul 2011 18:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82552 The Tribunal clarified that interest collected illegally under Section 27 of the Customs Act must be refunded, emphasizing the distinction between duty and interest. Goods exempted under the DEEC Scheme are not liable for interest unless conditions are breached, leading to recovery of duty and interest. Liability to pay duty on warehoused goods is determined at removal, with no duty while in the warehouse; interest is calculated based on the principal amount upon clearance. The Tribunal dismissed the Reference Applications, upholding decisions based on legal provisions and precedents. Case-Laws Customs Wed, 04 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82552