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Amendment In Notification No. 42/2001 CE (NT) dated 26th June 2001 (Conditions and procedures for export, except to Nepal and Bhutan without payment of duty) - 020/2007 - Central Excise - Non Tariff
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Interest prescribed under Central Excise Act replaces fixed interest rate in export without payment of duty procedures. Amendment substitutes the words 'interest at the rate of twenty four percent per annum' in paragraph 2(clause (v)(b)) of Notification No. 42/2001-CE(NT) with the interest prescribed under section 11AB of the Central Excise Act, 1944, and makes the identical substitution in Annexure-II, clause (d), thereby aligning the notification's interest references with the statutory interest provision.
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Provisions expressly mentioned in the judgment/order text.
Interest prescribed under Central Excise Act replaces fixed interest rate in export without payment of duty procedures.
Amendment substitutes the words "interest at the rate of twenty four percent per annum" in paragraph 2(clause (v)(b)) of Notification No. 42/2001-CE(NT) with the interest prescribed under section 11AB of the Central Excise Act, 1944, and makes the identical substitution in Annexure-II, clause (d), thereby aligning the notification's interest references with the statutory interest provision.
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