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2016 (8) TMI 875 - AT - CustomsLevy of interest – provisional assessment – subsequent finalization – interest brought into force w.e.f. 13/07/2006 subsequent to which finalization done - Ministry of Finance vide Circular No. 20/2006-Cus dated 21 July 2006 clarified that interest should be levied from the date of provisional assessment – Held that:- it was held in the case Commissioner of Customs (Preventive) vs. Goyal Traders 2011 (8) TMI 720 Gujarat High Court that prior to introduction of sub-section (3) of Section 18 of the Act in the present form, there was no liability to pay interest on difference between finally assessed duty and provisionally assessed duty upon payment of which the assessee may have cleared the goods. It was only with effect from 13-7-2006 that such charging provision was introduced in the statute. Upon introduction therefore such provision created interest liability for the first time w.e.f. 13-7-2006. In absence of any indication in the statute itself either specifically or by necessary implication giving retrospective effect to such a statutory provision, we are of the opinion that the same cannot be applied to cases of provisional assessment which took place prior to the said date. Any such application would in our view amount to retrospective operation of the law – interest not levied - appeal not maintainable – decided against Revenue.
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