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of <h1>Delayed Customs Duty Refunds Under Section 27(2) Entitle Applicants to Interest After Three Months</h1> If a refund of customs duty ordered under Section 27(2) of the Customs Act, 1962 is delayed beyond three months from the application receipt date, the applicant is entitled to interest. The interest rate is set by the Central Government and ranges from 5% to 30% per annum, starting from the day after the three-month period until the refund is made. For applications before the Finance Bill, 1995, interest applies from three months after the bill's assent. Refund orders by higher authorities are considered under Section 27(2) for this purpose.
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