https://www.taxtmi.com/caselaws?id=119218 The Commission allowed the settlement application, directing the applicant to pay the admitted duty liability of Rs. 2,16,610 within 30 days. Despite conflicting reports from DGFT and Customs, the duty liability was settled at the admitted amount. The applicant was liable to pay interest at 15% per annum and granted immunity from penalty and prosecution. The decision underscored the significance of accurate reporting and timely compliance for effective settlement under the Customs Act, emphasizing legal obligations and consequences of the terms. en-us Thu, 22 Jun 2006 00:00:00 +0530 Mon, 09 Jul 2012 17:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119218 The Commission allowed the settlement application, directing the applicant to pay the admitted duty liability of Rs. 2,16,610 within 30 days. Despite conflicting reports from DGFT and Customs, the duty liability was settled at the admitted amount. The applicant was liable to pay interest at 15% per annum and granted immunity from penalty and prosecution. The decision underscored the significance of accurate reporting and timely compliance for effective settlement under the Customs Act, emphasizing legal obligations and consequences of the terms. Case-Laws Customs Thu, 22 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119218