Interest can be demanded from importer as per terms of bond on non-fulfilment of export obligation

Excise & Customs : Though there is no provision for levy of interest under Foreign Trade (Development and Regulation) Act, 1992, but, interest may be charged as a condition of bond, which is a contractual obligation; hence, in case of non-fulfilment of export obligation as per Foreign Trade Policy, interest may be levied as per terms of Bond