Interest fixation under Customs Act secures statutory annual interest, superseding prior notification and applying prospectively with limited exceptions. The Central Government, exercising powers under section 28AB of the Customs Act, 1962, superseded an earlier notification and fixed the rate of interest by notification dated 12 May 2000; the fixation applies except as respects acts or omissions occurring before the supersession.
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Interest fixation under Customs Act secures statutory annual interest, superseding prior notification and applying prospectively with limited exceptions.
The Central Government, exercising powers under section 28AB of the Customs Act, 1962, superseded an earlier notification and fixed the rate of interest by notification dated 12 May 2000; the fixation applies except as respects acts or omissions occurring before the supersession.
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