Drawback payment period reduced to two months; government to pay interest for delayed drawback claims after amendment. The Customs (Amendment) Act, 1998 reduces the drawback payment period to two months and mandates that the Central Government pay interest to exporters where drawback is not paid within that two month period; other provisions remain unchanged and the amendment applies prospectively to claims filed on or after the Act's assent date.
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Drawback payment period reduced to two months; government to pay interest for delayed drawback claims after amendment.
The Customs (Amendment) Act, 1998 reduces the drawback payment period to two months and mandates that the Central Government pay interest to exporters where drawback is not paid within that two month period; other provisions remain unchanged and the amendment applies prospectively to claims filed on or after the Act's assent date.
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