TaxTMI 
TaxTMI 
2015 (12) TMI 656
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....spondent : Shri T.K. Sikadar, Authorised Representative ORDER Per : Mr. P.M. Saleem M/s. Sun Pharmaceuticals Industries Limited, the appellant herein are before us in this appeal aggrieved by the impugned order-in-original and Order-in-Appeal wherein the lower authorities has confirmed the duty deposited by the appellant along with interest and imposed penalty. 2. Heard both sides. Learned Cou....
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....interest. However, their contention was not accepted by the lower authorities who confirmed the duty liability along with interest and also imposed penalty, on the ground that interest was not paid. Learned Counsel submits that the goods were properly warehoused and there is no duty liability on the goods as long as the goods are warehoused. The goods become liable for duty only on expiry of wareh....
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....e same can be warehoused till expiry of three years as per Section 61 (i) (a) of the Customs Act, 1962. The duty liability on the goods will arise only after expiry of such time limit, or when the goods are cleared from the warehouse before that time limit. In the instant case, the appellants had imported the goods during the period June 2010 to March 2011 and they had cleared the goods on 13.09.2....
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....tained. 4. We also find that the is also of the same view, as is evident from Para 6 of Circular No. 15/2009 dated 12.05.2009, though the officers under CBEC appears to have a different view. Para-6 of the said circular is as follows:- "6. Further, as per the provisions of Section 61(2), interest on warehoused goods is payable when they remain in the warehouse beyond the permitted warehousing p....