Interest rate for delayed payment of duty fixed under section 28AA, prescribing a high annual charge for delayed customs payments. Fixes the rate of interest payable on delayed payment of customs duty at twenty per cent per annum under the statutory power conferred by section 28AA of the Customs Act, 1962; the Central Board of Excise and Customs prescribes that interest rate for the purposes of that section as a uniform statutory charge on delayed duty payments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest rate for delayed payment of duty fixed under section 28AA, prescribing a high annual charge for delayed customs payments.
Fixes the rate of interest payable on delayed payment of customs duty at twenty per cent per annum under the statutory power conferred by section 28AA of the Customs Act, 1962; the Central Board of Excise and Customs prescribes that interest rate for the purposes of that section as a uniform statutory charge on delayed duty payments.
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