M/S.Jaswal Neco Ltd vs Commnr. Of Customs, Visakhapatnam

The Supreme Court addressed the liability of the appellant for customs duties under the Customs Act, 1962, specifically Sections 12, 68, and 3A, and the Customs Tariff Act, 1975, Section 9A. The Court held that the appellant, having failed to fulfill its export obligations, was liable to pay basic customs duty, special customs duty, and special additional duty, but disputed the applicability of anti-dumping duty. The Court affirmed the CESTAT's reduction of interest from 24% to 15% but clarified that interest was not chargeable on the duties due to the lack of a stipulation in the bond regarding interest in case of default, and the assessment was provisional.