Cus Ntf No.28/2002(NT),dt.13/05/2002

Supersession of the Notification No.34/2000-Customs(NT), dated the 12th May, 2000 seeking to prescribe rate of interest on delayed payment of duty, under section 47 of the Customs Act, 1962.

In exercise of the powers conferred by sub-section (2) of section 47 of the Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 34 /2000 –Customs (N. T.), dated the 12th May, 2000 [GSR 440 (E), dated the 12th May, 2000 ], the Central Government hereby fixes the rate of interest at fifteen per cent. per annum for the purposes of the said section.

(G. D. Lohani)
Under Secretary to the Government of India

F. No. B-10/ 3 /2002-TRU

(Please refer Cus Cir No.68/2002 Date 24/10/2002 for Warehousing – Applicability of interest on warehoused goods under Section 61 of the Customs Act, 1962 – Clarification thereto – reg.)

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