2025 (3) TMI 70

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....eld formations that waiver of interest on power projects even in case of some delay, in clearance from warehouse should be appropriately considered by the Chief Commissioners, since such costs imposed by the department have the propensity to increase working capital requirements and eventually the project cost, for the project which are of national importance. The CBIC Circular clearly covers the projects which are in the nature of power project, is extracted below: - "4. The guidelines where the interest would generally be waived have been framed keeping in mind the fact that for certain specified categories of imports such as ship stores and others, the import duty is finally not payable. In certain other cases, it was considered that i....

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....Initially on approaching the Chief Commissioner, it was responded to them that they should apply for waiver of interest, once the project is completed. Later when they applied for the same, it was rejected by the Chief Commissioner vide his letter dated 22nd August, 2017 and vide the office letter of the office of Chief Commissioner dated 6th November, 2017, which is at page 29 of the appeal paper book, and is reproduced below: - The letter was communicated by the Joint Commissioner to the party stating no reason whatsoever for rejection of waiver of interest of Rs. 24,23,880/-. The order is also at page 31 of the paper book on vide letter dated 22nd August, 2017 by which after rejection, the appellant party was directed to pay interest. A....