TaxTMI 
TaxTMI 
Delay in Finalization of Bill of Entry recover of Interest.
X X X X Extracts X X X X
X X X X Extracts X X X X
....elay in Finalization of Bill of Entry recover of Interest.<br> Query (Issue) Started By: - vinay wakde Dated:- 22-9-2011 Last Reply Date:- 22-9-2011 Customs - Exim - SEZ<br>Got 1 Reply<br>Customs<br>T....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he provisional Bill of Entries are finalized after long period i.e. after 10 years by the Customs Department. The final Order passed by the adjudicating authority demanding differential duty with Inte....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rest. The Appeal & Stay application against the Order has been filed by us. As per Section 28B of Customs Act, 1962, the Interest shall be recovered by the Customs Department from the date of Bill of....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Entry provisionally assessed till date of payment. The delay i.e. more than 10 years for finalization the Bill of Entries is done by the Department. Whether Interest shall be recovered from us as per....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the Section 28B of Customs Act, 1962, or any other remedy to save interest. Regards, VINAY Reply By Pradeep Khatri: The Reply: There is no way out. Since the Interest is statutorily payable, you ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....would have to pay it. However, now, Department of Revenue, has come with a circular regarding Voluntary payment of duty before final assessment. Kindly check Circular No.40/2011-Customs dated 09-09-20....
X X X X Extracts X X X X
X X X X Extracts X X X X
....11 in this regard. But for previous period you would have to pay the interest.<br> Discussion Forum - Knowledge Sharing ....