Notification No. 18/2011-Customs (N.T.),
New Delhi, the 1st March, 2011
G.S.R. (E).— In exercise of the powers conferred by section 28AB 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.76/2003-Customs (N.T.), dated the 12th September, 2003[GSR (E), dated the 12th September, 2003], except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at eighteen percent. per annum for the purposes of the said section.
This notification shall come into force from the 1st day of April, 2011.
how to calculate customs duty interest
Can interest payable on duty be called additional duty or part of duty?
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is it custome duty interest exempt?