https://www.taxtmi.com/caselaws?id=467034 Section 18(3) of the Customs Act, 1962, which imposes interest on amounts payable following finalisation of provisional assessments, operates prospectively from 13.07.2006. The provision creates a substantive liability to interest on differential duty and contains no express retrospective language or necessary implication supporting application to earlier provisional assessments. Accordingly, interest is not leviable when provisional assessments were made before 13.07.2006 and are subsequently finalised. en-us Thu, 08 Feb 2024 00:00:00 +0530 Mon, 02 Mar 2026 19:58:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467034 Section 18(3) of the Customs Act, 1962, which imposes interest on amounts payable following finalisation of provisional assessments, operates prospectively from 13.07.2006. The provision creates a substantive liability to interest on differential duty and contains no express retrospective language or necessary implication supporting application to earlier provisional assessments. Accordingly, interest is not leviable when provisional assessments were made before 13.07.2006 and are subsequently finalised. Case-Laws Customs Thu, 08 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467034