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Customs Duty Rate Locked at Time of Bill Entry, Not Subject to Change During Reassessment or Clearance.
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....Rate of Customs duty - Effective date of notification - on the date of bill of entry or date of clearance of goods - u/s 46 of the Act, the rate of duty enforced on the date and the time when the bills of entry presented for home consumption was 40%, the same had been already paid by the petitioner. This by no means could be altered by any power of re-assessment u/s 17 of the Act or at the time of clearance of the goods for home consumption u/s 47 of the Act - HC....