https://www.taxtmi.com/caselaws?id=122575 Settlement proceedings under an export-linked customs import scheme may grant immunity from penalty and prosecution where the applicant makes full disclosure, accepts liability and pays differential duty. Interest can still be imposed where duty was not paid on time and the importer derived financial benefit from breach of scheme conditions; in the text, interest at 15% was directed. Imported luxury vehicles used contrary to the EPCG conditions were treated as liable to confiscation, with redemption fine justified. The customs duty was settled at the admitted amount, with credit for amounts already deposited and adjustment of the balance against interest and other dues. en-us Wed, 25 Apr 2007 00:00:00 +0530 Tue, 14 Aug 2012 16:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122575 Settlement proceedings under an export-linked customs import scheme may grant immunity from penalty and prosecution where the applicant makes full disclosure, accepts liability and pays differential duty. Interest can still be imposed where duty was not paid on time and the importer derived financial benefit from breach of scheme conditions; in the text, interest at 15% was directed. Imported luxury vehicles used contrary to the EPCG conditions were treated as liable to confiscation, with redemption fine justified. The customs duty was settled at the admitted amount, with credit for amounts already deposited and adjustment of the balance against interest and other dues. Case-Laws Customs Wed, 25 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122575