https://www.taxtmi.com/caselaws?id=128263 A short delay of about eight days in paying interest, after the full Modvat credit had been reversed before the Amnesty Scheme cut-off date, did not defeat eligibility for exemption under Notification No. 203/92-Cus. The text treats the timely reversal of the entire credit as the substantive compliance requirement, while the delayed interest payment was only a minor lapse explained by uncertainty over the scheme's application. A certificate recorded reversal of credit for the relevant advance licences, and that evidence supported compliance with the scheme. The minor delay in interest reversal therefore did not remove the benefit of the Amnesty Scheme or the customs exemption. en-us Thu, 15 Jan 2009 00:00:00 +0530 Sat, 30 Mar 2013 15:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128263 A short delay of about eight days in paying interest, after the full Modvat credit had been reversed before the Amnesty Scheme cut-off date, did not defeat eligibility for exemption under Notification No. 203/92-Cus. The text treats the timely reversal of the entire credit as the substantive compliance requirement, while the delayed interest payment was only a minor lapse explained by uncertainty over the scheme's application. A certificate recorded reversal of credit for the relevant advance licences, and that evidence supported compliance with the scheme. The minor delay in interest reversal therefore did not remove the benefit of the Amnesty Scheme or the customs exemption. Case-Laws Customs Thu, 15 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128263