https://www.taxtmi.com/caselaws?id=762438 The Kerala HC held that the Foreign Trade Policy cannot independently authorize levy of interest under Section 28AA of the Customs Act, 1962 for recovery of wrongly availed duty credit scrip rewards under the Service Exports from India Scheme. The court ruled that while the Foreign Trade Policy contemplated refund with interest for ineligible benefits, such interest levy must be supported by plenary legislation, not merely policy provisions. The petitioner succeeded, and the writ petition was allowed, establishing that policy frameworks cannot substitute for statutory authority in imposing interest obligations. en-us Tue, 19 Nov 2024 00:00:00 +0530 Sun, 01 Dec 2024 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762438 The Kerala HC held that the Foreign Trade Policy cannot independently authorize levy of interest under Section 28AA of the Customs Act, 1962 for recovery of wrongly availed duty credit scrip rewards under the Service Exports from India Scheme. The court ruled that while the Foreign Trade Policy contemplated refund with interest for ineligible benefits, such interest levy must be supported by plenary legislation, not merely policy provisions. The petitioner succeeded, and the writ petition was allowed, establishing that policy frameworks cannot substitute for statutory authority in imposing interest obligations. Case-Laws Customs Tue, 19 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762438