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TMI Blog2023 (6) TMI 1254X X X X Extracts X X X X X X X X Extracts X X X X ..... t fulfilled. Therefore when Licence has been cancelled and Customs Duty is paid, the interest liability on such Customs Duty payment cannot be waived. Hence, the prayer of the Appellant to waive the interest is rejected. However, going through the documents submitted by them, it is seen that the Appellant has written a letter on 30/12/2013 submitted to the Department on 02/01/2014 wherein they have requested to Commissioner to realize the Customs Duty by encashing the Bank Guarantee. It is seen from letter F. No. S60(MISC)-265/14A.EPCG dated 12/08/2016 issued by the office of the Deputy Commissioner of Customs, the Bank Gurantee has been enchased on 07/03/2014 and 25/02/2015. This means that the encashment is after more two months in res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be realized by encashing the Bank Guarantee already available with the Department. The Department has encashed the bank guarantee towards Customs Duty liability and made a demand of Rs.30,58,895/- as interest amount. For arriving at this interest amount, the number of days delay between the date of clearance of goods and date of realization of bank guarantee has been taken. Being agitated by the confirmed demand of interest, the Appellant is before the Tribunal. 2. The Learned Advocate appearing on behalf of the Appellant submits that the DGFT took the decision to cancel their licence after an enormous delay of six years. The DGFT never made any enquiries as to whether the Appellant was entitled to get the benefit of EPCG Licence or no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted to the Department on 02/01/2014 wherein they have requested to Commissioner to realize the Customs Duty by encashing the Bank Guarantee. It is seen from letter F. No. S60(MISC)-265/14A.EPCG dated 12/08/2016 issued by the office of the Deputy Commissioner of Customs, the Bank Gurantee has been enchased on 07/03/2014 and 25/02/2015. This means that the encashment is after more two months in respect of two Bills of Entry and after about one year four months in respect of the other two Bills of Entry. The Adjudicating Authority is directed to re-calculate and requantify the interest payable by taking the realization date as 03/01/2014 as their consent to the Department for encashment of Bank Guarantee was given on 02/01/2014 itself . T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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