Interest on unpaid import duty accrues until payment when duty is not paid within prescribed presentation or return timelines. Amendment prescribes that import duty must be paid on the date of presentation for self-assessment, within one day (excluding holidays) after return by ... Summary
Interest on unpaid import duty accrues until payment when duty is not paid within prescribed presentation or return timelines.
Amendment prescribes that import duty must be paid on the date of presentation for self-assessment, within one day (excluding holidays) after return by the proper officer for assessed, reassessed or provisionally assessed bills, or on a rules specified due date for deferred payment; failure to pay within these times attracts interest on unpaid or short paid duty until payment, at a rate to be fixed by the Central Government by notification in the Official Gazette.
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