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of <h1>Interest Rate for Warehoused Goods Set at 24% Annually Under Section 61(2) of Customs Act 1962</h1> The notification announces the supersession of Notification No. 30/99-Customs, dated May 12, 1999, by fixing the interest rate for warehoused goods at 24% per annum under section 61(2) of the Customs Act, 1962. Issued by the Central Board of Excise and Customs, this new rate will be effective from March 16, 2001. The notification is authorized by the Joint Secretary to the Government of India and pertains to non-tariff customs regulations. The previous notification remains applicable only for actions completed before this supersession.
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