Interest on drawback applies for delayed payment and for recovery of erroneous drawback, with interest running until payment or recovery. Interest is payable on drawback under the Customs Act where drawback due under section 74 or section 75 is not paid within one month from the date of filing the claim. The claimant is entitled to interest at the rate fixed under section 27A from the day after expiry of the one-month period until payment. Where drawback has been paid erroneously or otherwise becomes recoverable, the claimant must repay it within two months from demand, together with interest at the rate fixed under section 28AA from the date of payment until recovery.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on drawback applies for delayed payment and for recovery of erroneous drawback, with interest running until payment or recovery.
Interest is payable on drawback under the Customs Act where drawback due under section 74 or section 75 is not paid within one month from the date of filing the claim. The claimant is entitled to interest at the rate fixed under section 27A from the day after expiry of the one-month period until payment. Where drawback has been paid erroneously or otherwise becomes recoverable, the claimant must repay it within two months from demand, together with interest at the rate fixed under section 28AA from the date of payment until recovery.
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