This notification fixes Interest rate for delayed payment of duty in special cases

This notification fixes Interest rate for delayed payment of duty in special cases

1-3-2000

Notification No. 16/2000-Cus. (NT.)

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. 47/96-Customs (N.T.), dated the 9th October, 1996, the Central Board of Excise and Customs hereby fixes the rate of interest at twenty-four per cent. per annum for the purposes of the said section.