Warehousing - Waiver of interest on re-export of warehoused goods u/s 69 of the Customs Act, 1962 – Clarification thereto – regarding –

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....NO. 38 /2005-CUSTOMS 28th September, 2005 F.No.473/07/2005-LC Government of India Ministry of Finance Department of Revenue To All Chief Commissioner of Central Excise & Customs All Chief Commissioner of Central Excise All Chief Commissioner of Customs All Chief Commissioner of Customs (Preventive) Sub :    Warehousing - Waiver of interest on re....

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.... decided by the Board to adopt the ratio of Hon'ble Supreme Court's judgement in the case of M/s Pratibha Processors Vs. U.O.I (1996 (88) E.L.T. 12 (SC), wherein the Apex Court has held that the interest on warehoused goods is merely an accessory of the principal and, if the principal is not recovered/payable, so is the interest on it. The interest under Section 61 (2) of the Customs Act, 1962 has....

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.... the warehouse, for actual use for building and fitment to ships." 4. The other two eligible cases indicated at para 2 (xiii) and 2 (xiv) of Circular No.62/2004-CUS., dated 29.10.2004 (i.e. import under EPCG Scheme and import of Capital Goods by Public Sector Undertakings), as incorporated after para 2 (xii) of Board's guidelines dated 27.12.1993,  may be read as para 2 (xii) and (xii....