This notification fixes the Rate of interest – Warehousing dues for delayed payment of duty

This notification fixes the Rate of interest – Warehousing dues for delayed payment of duty 1-3-2000

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. 81/91-Customs (N.T.), dated the 23rd December, 1991, 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.