https://www.taxtmi.com/caselaws?id=96392 The case involved issues of failure to fulfill export obligations, demand for customs duty and interest, adjustment of Central Excise duty, waiver of interest, and statutory sanction for interest demand. The applicant, M/s. Ganapathi Smelters Limited, imported scrap but failed to meet the full export obligation, leading to a demand for duty and interest. After negotiations, the duty liability was fixed at Rs. 22,42,269/-, with no interest required under the Customs Act, 1962. The applicant paid the duty, and the bond was returned with a certificate for Modvat benefit, subject to Section 127H(3) of the Customs Act, 1962. en-us Wed, 23 May 2001 00:00:00 +0530 Wed, 21 Dec 2011 13:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96392 The case involved issues of failure to fulfill export obligations, demand for customs duty and interest, adjustment of Central Excise duty, waiver of interest, and statutory sanction for interest demand. The applicant, M/s. Ganapathi Smelters Limited, imported scrap but failed to meet the full export obligation, leading to a demand for duty and interest. After negotiations, the duty liability was fixed at Rs. 22,42,269/-, with no interest required under the Customs Act, 1962. The applicant paid the duty, and the bond was returned with a certificate for Modvat benefit, subject to Section 127H(3) of the Customs Act, 1962. Case-Laws Customs Wed, 23 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96392