https://www.taxtmi.com/caselaws?id=221666 Section 18(3) of the Customs Act, 1962 was treated as creating a fresh statutory liability to pay interest on differential duty arising from final assessment of provisional clearances. The amendment was held to be substantive, not merely procedural, and there was no express or implied legislative intent to give it retrospective effect. Applying the principle that a new fiscal burden operates prospectively unless clearly made retrospective, interest could not be fastened on provisional assessments made before 13.07.2006, even though finalisation occurred later. en-us Fri, 27 Jan 2012 00:00:00 +0530 Thu, 04 Jul 2013 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221666 Section 18(3) of the Customs Act, 1962 was treated as creating a fresh statutory liability to pay interest on differential duty arising from final assessment of provisional clearances. The amendment was held to be substantive, not merely procedural, and there was no express or implied legislative intent to give it retrospective effect. Applying the principle that a new fiscal burden operates prospectively unless clearly made retrospective, interest could not be fastened on provisional assessments made before 13.07.2006, even though finalisation occurred later. Case-Laws Customs Fri, 27 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221666