https://www.taxtmi.com/caselaws?id=348376 Interest was leviable on belated payment of customs duty for imported equipment intended for a 100% export-oriented unit project, because the goods remained duty unpaid during the relevant period and the manufacturing activity never commenced. The Tribunal treated delayed duty payment as attracting interest as a matter of consequence, and rejected reliance on claimed bona fide belief or the fact that exports ultimately did not take place. The cited circular and case law did not displace the liability arising from the delay, so interest on the delayed customs duty was payable by the assessee. en-us Fri, 04 Aug 2017 00:00:00 +0530 Thu, 21 Sep 2017 07:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348376 Interest was leviable on belated payment of customs duty for imported equipment intended for a 100% export-oriented unit project, because the goods remained duty unpaid during the relevant period and the manufacturing activity never commenced. The Tribunal treated delayed duty payment as attracting interest as a matter of consequence, and rejected reliance on claimed bona fide belief or the fact that exports ultimately did not take place. The cited circular and case law did not displace the liability arising from the delay, so interest on the delayed customs duty was payable by the assessee. Case-Laws Customs Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348376