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of <h1>New Customs Notification Sets 15% Interest Rate for Delayed Duty Payments, Supersedes Previous Notice /2002-Customs(N.T.)</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 28/2002-Customs (N.T.) dated 13th May 2002, which supersedes Notification No. 34/2000-Cus. (N.T.). This notification sets the interest rate for delayed payment of customs duty and warehousing dues at fifteen percent per annum. The notification is issued by the Ministry of Finance, Department of Revenue, and is signed by the Under Secretary to the Government of India.
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