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of <h1>Understand Customs Duty Refunds: Section 27 of Customs Act Allows Claims Within One Year; Interest on Delayed Refunds</h1> The Customs Refund chapter outlines procedures for claiming refunds on excess customs duties paid during import or export. Under Section 27 of the Customs Act, 1962, refunds can be claimed within one year from the payment date, with specific exceptions. Applications must include evidence of excess payment and proof that the duty burden wasn't passed on to others. Refunds are processed by Customs, with unjust enrichment considerations directing funds to the Consumer Welfare Fund unless certain conditions are met. Interest is payable on delayed refunds beyond three months. The process emphasizes transparency, with detailed records and monitoring mechanisms to ensure timely and accurate refund processing.
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