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of <h1>Finance Ministry Grants Chief Commissioners Power to Waive Interest on Customs Duty u/s 61, Customs Act 1962.</h1> The circular from the Ministry of Finance, Department of Revenue, addresses the delegation of the Central Board of Excise & Customs' power to Chief Commissioners regarding waivers of interest on Customs Duty under Section 61 of the Customs Act, 1962. It reiterates that cases involving interest amounts within the Rs. 15 lakhs delegated limit should be resolved by the Chief Commissioner without Board referral. Requests exceeding this limit should be examined by Commissionerates and, if necessary, forwarded to the Board. The circular instructs the issuance of public notices for guidance and requests acknowledgment of its receipt.
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