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of <h1>Section 28AA imposes 20% annual interest on delayed customs duty payments after three months from determination</h1> The Finance Act, 1995 introduced section 28AA in the Customs Act, 1962, effective from 26.5.1995, imposing 20% per annum interest on delayed payments of confirmed demands. Interest liability begins after three months from the duty determination date. The circular emphasizes expediting adjudication processes to prevent revenue loss from delayed interest collection. Supervisory officers must monitor pending cases where show cause notices were issued for duty recovery. The communication gap between decisions and formal orders must be minimized. Audit objections should be settled within three months through regular meetings between commissioners and auditors. Cases in 'Call Book' require review unless stayed by tribunals or courts. Instructions must be issued as standing orders to all assessing and adjudicating officers.
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