https://www.taxtmi.com/caselaws?id=52843 Non-compliance with the conditions of Notification No. 203/1992-Cus., including failure to reverse the full Modvat credit and pay the required interest within the stipulated time, disentitled the importer to the amnesty benefit and made the exempt customs duty recoverable on the imported goods. A pro rata reduction based on partial reversal of Modvat credit was rejected because the Modvat scheme and the DEEC customs scheme operated independently. Interest on the duty demand was not sustainable for the relevant period in the absence of express statutory authority under the Customs Act. Penalty was also unsustainable because the show cause notices lacked the necessary allegation of knowledge or belief that the goods were liable to confiscation. en-us Wed, 28 Apr 2004 00:00:00 +0530 Fri, 08 Oct 2010 10:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52843 Non-compliance with the conditions of Notification No. 203/1992-Cus., including failure to reverse the full Modvat credit and pay the required interest within the stipulated time, disentitled the importer to the amnesty benefit and made the exempt customs duty recoverable on the imported goods. A pro rata reduction based on partial reversal of Modvat credit was rejected because the Modvat scheme and the DEEC customs scheme operated independently. Interest on the duty demand was not sustainable for the relevant period in the absence of express statutory authority under the Customs Act. Penalty was also unsustainable because the show cause notices lacked the necessary allegation of knowledge or belief that the goods were liable to confiscation. Case-Laws Customs Wed, 28 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52843