https://www.taxtmi.com/caselaws?id=102429 Interest under the Customs warehousing scheme arises only while goods remain warehoused beyond the permitted period, and ceases once the goods are cleared within that period. Section 59(1)(b) cannot be used on its own to create an interest liability, because the charging basis operates only in conjunction with Section 61. The later enhanced interest rate under Notification No. 143/83 could not apply to goods already cleared in 1982. On that reasoning, no interest was leviable and the demand was unsustainable. en-us Tue, 30 Apr 2002 00:00:00 +0530 Tue, 14 Feb 2012 18:13:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102429 Interest under the Customs warehousing scheme arises only while goods remain warehoused beyond the permitted period, and ceases once the goods are cleared within that period. Section 59(1)(b) cannot be used on its own to create an interest liability, because the charging basis operates only in conjunction with Section 61. The later enhanced interest rate under Notification No. 143/83 could not apply to goods already cleared in 1982. On that reasoning, no interest was leviable and the demand was unsustainable. Case-Laws Central Excise Tue, 30 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102429