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of <h1>India Amends Customs Act: Interest on Duty Drawback Claims Now Payable After Two Months Instead of Three.</h1> The circular issued by the Ministry of Finance, Government of India, addresses the amendment of Section 75A of the Customs Act and Rule 13 of the Customs and Central Excise Duties Drawback Rules, 1995. The amendment reduces the period after which interest is payable to exporters on pending duty drawback claims from three months to two months. Consequently, the monthly statement format for reporting the pendency of drawback claims is updated to include categories for claims pending below one month, one to two months, over two months, and over one year.
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