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of <h1>New Notification Sets 8% Interest Rate for Delayed Customs Refunds Under Section 27A of the Customs Act, 1962.</h1> The Central Government, exercising powers under section 27A of the Customs Act, 1962, has issued Notification No. 25/2002-Customs (N.T.) on May 13, 2002, superseding Notification No. 21/2001-Cus. (N.T.) dated May 11, 2001. This new notification sets the interest rate at eight percent per annum for delayed refunds under the specified section.
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