Inclusion of payment date in interest calculation affects interest computation under customs and excise provisions. The Board directs that the date on which duty is paid shall be included in the period for calculating interest on delayed payment under Section 28AA/28AB and other provisions of the Customs Act, 1962, and under Section 11AA/11AB and other provisions of the Central Excise Act, 1944, and rules thereunder. This interpretation follows the ordinary, inclusive meaning of the word 'till' as 'to the time of' or 'until', and uniform compliance is required, with any implementation difficulties to be reported to the Board.
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Inclusion of payment date in interest calculation affects interest computation under customs and excise provisions.
The Board directs that the date on which duty is paid shall be included in the period for calculating interest on delayed payment under Section 28AA/28AB and other provisions of the Customs Act, 1962, and under Section 11AA/11AB and other provisions of the Central Excise Act, 1944, and rules thereunder. This interpretation follows the ordinary, inclusive meaning of the word 'till' as 'to the time of' or 'until', and uniform compliance is required, with any implementation difficulties to be reported to the Board.
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