https://www.taxtmi.com/caselaws?id=393059 Under the EPCG scheme, interest stipulated in the importer's bond was enforceable on failure to fulfil export obligations, because the customs exemption notification, export policy, handbook procedure and bond operated as one integrated scheme. The Court applied earlier binding authority to hold that an importer could not take the benefit of concessional duty while disputing the default interest undertaking. However, the later notification and public notice capped the interest recoverable on regularisation of export obligation defaults, so the payable amount had to be re-determined with credit for sums already paid or appropriated, and any excess refunded. The matter was therefore remitted for recalculation in line with the revised regime. en-us Tue, 25 Feb 2020 00:00:00 +0530 Thu, 12 Nov 2020 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393059 Under the EPCG scheme, interest stipulated in the importer's bond was enforceable on failure to fulfil export obligations, because the customs exemption notification, export policy, handbook procedure and bond operated as one integrated scheme. The Court applied earlier binding authority to hold that an importer could not take the benefit of concessional duty while disputing the default interest undertaking. However, the later notification and public notice capped the interest recoverable on regularisation of export obligation defaults, so the payable amount had to be re-determined with credit for sums already paid or appropriated, and any excess refunded. The matter was therefore remitted for recalculation in line with the revised regime. Case-Laws Customs Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393059