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Showing contexts for: reuse goods in Diamant Boart Petroleum India Pvt. Ltd. vs Commissioner Of Customs on 30 July, 2004Matching Fragments
"I am convinced with the order of the lower authority for imposition of Custom duty and interest thereon on the unused / unfinished goods lying inside bonded premises of the appellant. Under the provision of paragraph 5(b) of the notification 13/801 dated 9.02.81. Appellant is liable to pay Custom duty on reused finished goods lying is bonded provision."
3) After hearing both sides and considering the issues it is found -
a) The issue of levy of interest on warehoused goods after warehoused period was over has been settled by the Apex Court in the case of CC v. Jayathi Krishna & Co. 2000 (119) ELT 48. The interest is held to be an accessory to the principal and if principal is not payable, so is the interest on it. Therefore, the interest on goods exported out of India is not payable since duty thereon is not demanded.