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of <h1>Customs (Amendment) Act 1998 shortens drawback payment period to two months under Section 75-A with interest on delays</h1> The Customs (Amendment) Act, 1998, effective from January 8, 1999, reduces the drawback payment period under Section 75-A of the Customs Act, 1962, from three months to two months. Exporters must receive drawback payments within this two-month timeframe. If payment is delayed beyond this period, the Central Government is required to pay interest to the exporters for the delayed duration. All other provisions of Section 75-A remain unchanged. The amendment applies prospectively to claims filed on or after January 8, 1999. Relevant authorities are instructed to inform field staff and trade stakeholders to ensure compliance with the revised payment timeline.
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