M/s ABC has imported some goods from London and cleared for home consumption. The same were finally re-assessed u/s 18(2) of the Customs Act, 1962.…
CA Final · Indirect Tax Laws · PYQS · January 2026
M/s ABC has imported some goods from London and cleared for home consumption. The same were finally re-assessed u/s 18(2) of the Customs Act, 1962. The particulars of the same are given as under: Particulars Date/Amount (₹) Date of provisional assessment 10.01.2025 Date of final reassessment 10.03.2025 Excess duty demanded after final reassessment 2,00,000 Date of payment of excess duty 20.03.2025 Rate of interest applicable 15% per annum Choose the correct option with respect to the amount of interest payable by M/s ABC:
Suggested Answer and Working Notes:
Correct Answer: Option (B)
Interest amounting to 6,493
Topics: Customs: Refund
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