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2016 (9) TMI 220 - AT - CustomsDemand of interest - Section 28 AA of the Customs Act, 1962 – manufacture of railway wagons and parts thereof – import of goods falling under CTH 8607 of the Customs Tariff from USA – payment of duty made under section 28 of the finance act, 1962 – Held that: - once the appellant has paid the amount under section 28, the payment of interest is automatic. Section 28AA of the Customs Act, 1962 mandates the appellant to pay interest. Period for which interest required to be paid – interest payable from the date when DRI pointed out the applicable rate of interest or from the first date of the month succeeding the month in which duty was expected to be paid by the appellant? – Held that: - Section 28AA (2) of the Customs Act, 1962 mandates the appellant to pay interest from the first date of the month succeeding the month in which duty was expected to be paid by the appellant. This is held in view of the statutory mandate provided under Section 28 AA(2) of the Customs Act, 1962, substituted w.e.f. 18.04.2011 under Section 43 of the Finance Act, 2011 – appeal rejected – decided against appellant.
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