https://www.taxtmi.com/caselaws?id=109982 Strict compliance with Notification No. 203/92 was required for duty-free import benefits, and taking Modvat credit on duty-free imported inputs in breach of Clause V(a) constituted an immediate violation that disentitled the importer from the exemption. Later reversal of the credit and delayed payment of interest did not cure the original breach or restore the lost benefit, because the prescribed time for interest payment was not open to relaxation or extension. The notification was therefore construed strictly, and customs duty and interest remained payable in accordance with law; the order dropping proceedings was unsustainable. en-us Fri, 22 Aug 2003 00:00:00 +0530 Fri, 13 Apr 2012 12:51:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109982 Strict compliance with Notification No. 203/92 was required for duty-free import benefits, and taking Modvat credit on duty-free imported inputs in breach of Clause V(a) constituted an immediate violation that disentitled the importer from the exemption. Later reversal of the credit and delayed payment of interest did not cure the original breach or restore the lost benefit, because the prescribed time for interest payment was not open to relaxation or extension. The notification was therefore construed strictly, and customs duty and interest remained payable in accordance with law; the order dropping proceedings was unsustainable. Case-Laws Customs Fri, 22 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109982