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Issue ID : 108737
- 0 -

intrest on delayed payment of customs duty.

Date 12 Jun 2015
Replies6 Answers
Views 2752 Views
Asked By

I know the delayed customs duty we have to pay interest @15% after two days of completion of B/E..

can some one let me know the provisions and respective customs notification for the same..

6 answers
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- 0
Replied on Jun 12, 2015
1.

Sir,

With reference to your above query , please refer the following :-

(i) Section 47 (2) of the Customs Act, 1962,

(ii) Customs Notification No. 28/2002 (N.T.) dated 13.05.2002.

Hope the above shall clarify the matter.

- 0
Replied on Jun 13, 2015
2.

Dear Ganesh Ji,

the reply of mahir ji is correct.

current rate of interst under 47(2) of customs act 1962 is 15%, however under section 28AA, 28AB it is 18%.

But the period of five days has now two days under Section 47(2) and it has been amended by budget 2013-14.

- 0
Replied on Jun 15, 2015
3.

thanks you sirs.. for the information..

Ganesh Iyer

- 0
Replied on Jun 15, 2015
4.

is there any amendment after notn 28/2002 for intrest rate under 47/2 of customs act 1962..??

- 0
Replied on Jun 16, 2015
5.

Dear Sir,

No amendment till date.

- 0
Replied on Jun 17, 2015
6.

Yes sir agreed to above views.

Old Query - New Comments are closed.

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