Customs Interest cannot be waived unless such provision provided in Customs Act

Pomsy Food Products (P) Ltd Vs Union of India (Kerala High Court) High Court held that Interest under the Customs Act is statutory. There can be no waiver of such interest unless such waiver is provided for in the provisions of the Customs Act itself. FULL TEXT OF THE JUDGMENT/ORDER OF KERALA HIGH COURT The petitioner is a company registered under the provisions of the Companies Act, 1956. As a part of its business activities and to cater to the export market the petitioner availed the facility of an advance licence bearing No.01010015588 dated 31-03-2004 which enabled the petitioner to impor...