Delay in Finalization of Bill of Entry recover of Interest.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The provisional Bill of Entries are finalized after long period i.e. after 10 years by the Customs Department. The final Order passed by the adjudicating authority demanding differential duty with Int .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... erest. The Appeal Stay application against the Order has been filed by us. As per Section 28B of Customs Act, 1962 , the Interest shall be recovered by the Customs Department from the date of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Bill of Entry provisionally assessed till date of payment. The delay i.e. more than 10 years for finalization the Bill of Entries is done by the Department. Whether Interest shall be recovered from u .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s as per the Section 28B of Customs Act, 1962 , or any other remedy to save interest. Regards, VINAY - Reply By Pradeep Khatri - The Reply = There is no way out. Since the Interest is statut .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... orily payable, you would have to pay it. However, now, Department of Revenue, has come with a circular regarding Voluntary payment of duty before final assessment. Kindly check Circular No.40/2011-C .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ustoms dated 09-09-2011 in this regard. But for previous period you would have to pay the interest. - Delay in Finalization of Bill of Entry recover of Interest. - Query Started By: - vinay wakde D .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ated:- 22-9-2011 Customs - Import - Export - Customs - SEZ - Got 1 Reply - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagem .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... entindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X