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of <h1>India Cuts Interest Rate on Warehoused Goods Cleared to DTA from 24% to 15% Starting April 1, 2016.</h1> The Government of India, through the Ministry of Finance's Central Board of Excise & Customs, issued a circular announcing a change in the interest rate on goods warehoused for export but cleared to the Domestic Tariff Area (DTA). Effective from April 1, 2016, the interest rate is reduced from 24% to 15% per annum. This update modifies paragraph 10.3 of a previous circular and aims to adjust the financial liability on such goods. Relevant authorities are instructed to inform their field formations, and an acknowledgment of the circular's receipt is requested.
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