Applicable date for calculating the interest on excess imports under para 4.28 of the Handbook of Procedures, Vol. I

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... PUBLIC NOTICE NO. 36/2007 Sub: Applicable date for calculating the interest on excess imports under para 4.28 of the Handbook of Procedures, Vol. I reg. Attention of all the Importers, Exporters, CHAs and Members of the Trade is invited to Circular No. 27/2007 dated 26.07.2007 issued by CBEC vide letter F. No. 605/66/2006-DBK regarding applicable date for .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... last imports. 3. The matter has been examined by the Board. Prima facie, no interest becomes due till the taxable event i.e. excess import has occurred. As the goods imported first are normally used first in the manufacturing process, it would be logical to treat the last imports, which could not be utilised in the manufacture of export goods, as excess imports unless specific correla .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X