https://www.taxtmi.com/caselaws?id=269352 Interest on warehoused imported goods is payable only when the goods are retained beyond the permitted warehousing period or duty is not paid on time. Where the goods are cleared to the domestic tariff area within the authorised period and duty is voluntarily deposited on clearance, no default or contravention arises, so the demand for interest is unsustainable. In the absence of any breach, the consequential penalty also cannot be sustained. The circular relied on was consistent with this interpretation, and the article concludes that interest and penalty were not leviable. en-us Fri, 04 Dec 2015 00:00:00 +0530 Wed, 19 Oct 2016 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269352 Interest on warehoused imported goods is payable only when the goods are retained beyond the permitted warehousing period or duty is not paid on time. Where the goods are cleared to the domestic tariff area within the authorised period and duty is voluntarily deposited on clearance, no default or contravention arises, so the demand for interest is unsustainable. In the absence of any breach, the consequential penalty also cannot be sustained. The circular relied on was consistent with this interpretation, and the article concludes that interest and penalty were not leviable. Case-Laws Customs Fri, 04 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269352