2024 (11) TMI 1291

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....oner of Customs (Appeals), Kolkata. 2. The facts of the case are that the appellant is a a manufacturer of Cement Fibre Sheet (Corrugated). The appellant imported Chrysotile Asbestos Fibre as raw material and had filed 15 Bills of Entry for clearance of such consignments. The contract with the suppliers had a provision for a 'quantity discount' upon export of specified quantity to the appellant within a specified period. Accordingly, the assessments were made provisional under section 18(1)(a) of the Customs Act, 1962. Upon completion of the specified quantity of import under the contract, the provisional assessments were finalized vide Order-in-Original No. Kol/Cus/BC/451/Gr-1/2019A dated 14.05.2019 and an amount of Rs. 19,33,991/- was ....

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..../2019A dated 14.05.2019 under Section 18 of the Customs Act, 1962. Accordingly, interest became automatically payable under Sub-Section (4) thereof within 3 months from the date of assessment of duty finally on such un-refunded amount under section 27A ibid till the date of refund of such amount. The provisional assessment in the instant case was assessed finally vide OIO dated 14.05.2019 but the said amount of Rs.19,33,911/- was paid only on 06.01.2021 vide OIO No. Kol/Cus/DC/15/ARS/2021 dated 06.01.2021. Thus, there is a delay of one year and 237 days for refund of the said amount and the interest on the delayed refund amount of Rs. 19,33,991/- @6% per annum in terms of N.F. No. 75/2003-CUS(N.T.) dated 12.09.2003 works out to Rs. 1,62,138....