Home Case Index All Cases Customs Customs + AT Customs - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 470 - AT - CustomsChargeability of interest warehoused goods private bonded warehouse interest free period of 180 days - the notification No. 23/2001-Cus(NT) dated 22/5/2001,issued, effective from 1/6/2001, the interest was chargeable after expiry of bond period of 30 days interest chargeable on over and above 30 days or 180 days? Held that: - the goods were warehoused prior to issue of Notification No. 23/2001-Cus(NT) during that time the statue has mandated interest free bonding period of 180 days. Under that provision the appellant has executed the bond and warehoused the goods. Though the Notification No. 23/2001-Cus reduced period of 180 days to 30 days w.e.f. 1/6/2001 but goods which already warehoused prior to that date, will not be governed by amended notification, particularly for the reason that the period of 180 days provided under statue was not curtailed by this statue. Notification will have prospective effect - appellant are entitled for the interest free period of 180 days in respect of goods warehoused prior to 1/6/2001, cleared for home consumption thereafter appeal allowed decided in favor of appellant.
|