Rate of Interest fixed at 18 Percent – Notification No. 05/2011-Central Excise (N.T.)

Notification    No. 5/2011-Central Excise (N.T.),

New Delhi, the 1st March, 2011

G.S.R. (E).— In exercise of the powers conferred by section 11AA of the Central Excise Act, 1944 (1of 1944) and in supersession of the notification of the Government of India in the Ministry of Finance(Department of Revenue) No.18/2002-Central Excise(N.T.), dated the 13^th May, 2002[GSR (E), dated the 13^th May, 2002], 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 1^st day of April, 2011.