Mantu Chaudhary has imported goods from Germany and is finally re-assessed u/s 18(2) of the Customs Act, 1962 for two such consignments. Particulars…

(c) As per section 18 (3) of the Customs Act, 1962, an importer is liable to pay interest at the rate of 15% p.a. (Notification No. 33/2016-Cus. (NT) dated 01.03.2016), on any amount payable consequent to the re-assessment order from the first day of the month in which the duty is provisionally assessed till the date of payment. Therefore, in the given case, Mantu Chaudhary is liable to pay following interest in respect of 1st consignment: = 1,80,000 × 15% × 67/365 = 4,956 (rounded off) If any amount refundable consequent to the re-assessment order is not refunded within 3 months from date of re-assessment of duty, interest is payable to importer on unrefunded amount at the specified rate till the date of refund of such amount in terms of section 18 (4) of the Customs Act, 1962. Since in the given case, refund has been made (28.04.2025) within 3 months from the date of re-assessment of duty (02.02.2025), interest is not payable to Mantu Chaudhary on duty refunded in respect of 2nd consignment.