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Commissioner of Customs, Chennai Versus Gold Star Apparels Ltd.

2016 (11) TMI 1139 - CESTAT CHENNAI

Demand of interest - N/N. 110/95 dt. 05.06.1995 - EPCG Scheme - non-fulfilment of export obligation within the stipulated time - Held that: - The learned Commissioner (Appeals) held that interest liability is unsustainable as time-barred, but the res .....

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[2010 (10) TMI 301 - CESTAT, BANGALORE] holding that duty demanded cannot be claimed time-barred since the appellant had executed a bond undertaking to meet such liability in case of its failure to fulfill the conditions of the Notification No.43/02 .....

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spondent Order This is an appeal filed by Revenue against the orders of the appellate authority dt.10.05.2013. The adjudicating authority confirmed the demand of interest in terms of Notification No.110/95 dt. 05.06.1995 of the Customs Act, 1962 whic .....

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duty on the condition that they would fulfil the export obligation as was prescribed by the Licensing Authority. However, the respondent-importer had not fulfilled the export obligation within the stipulated time which is one of the conditions of th .....

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rned up for personal hearing. Since they failed to respond to the notices issued, the Bank Guarantee of ₹ 4,34,700/- submitted by them was encashed towards the liability on 1.11.2001 and the demand of interest of ₹ 5,76,718/- was confirme .....

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owed by issuance of show cause notice cum demand notice on 18.09.2001. Ld. AR submits that the bond executed by them was not cancelled and there is no time limit prescribed for demand of interest. The licence having been issued with three other such .....

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t to the unfulfilled portion of the export obligation for each year along with interest @ 15% per annum from the date of clearance of the goods imported but for the exemption contained in the notification failing to discharge a minimum of 25% of the .....

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of dispute is between 31.10.95 to 27.5.96 when Finance Bill 2003 was introduced. He therefore pleaded that order of learned Commissioner (Appeals) may be set aside and the order in original may be restored, by allowing the appeal. 3. None appeared f .....

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