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of <h1>Finance Bill 2013: Customs Act Section 47 Amended, Interest-Free Duty Payment Period Shortened from 5 Days to 2 Days.</h1> Clause 62 of the Finance Bill, 2013, amends section 47 of the Customs Act by altering sub-section (2). The amendment reduces the interest-free period for the payment of customs duty from five days to two days. This change affects the timeframe in which duties must be paid to avoid incurring interest, thereby potentially impacting importers' cash flow and financial planning.
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