Interest on Delayed Payment of Duty – Clarification - reg

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.... reg. It has been brought to the notice of the Board that various practices are being followed in Custom Houses regarding calculation of interest for delayed payment of duty. It has been stated that while some Custom Houses/Central Excise Commissionerates are including the date of payment in the period for calculating the interest, others are not doing so. It has been pointed out that the banks....

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....ry of Words and Phrases, Sixth Edition, p.2664, the meaning of the word 'till' is 'until'. The word 'until' has been analysed in the same dictionary on p.2788 as 'it is generally inclusive'. The Courts have evolved a general principle of a strict construction of taxing statues. It has to be strictly interpreted, if the language of the statute is plain and simple. When the intention of the Parli....