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of <h1>Amendment to Export Duty Notification: Interest Rate Aligned with Section 11AB of Central Excise Act, 1944</h1> The Central Government has amended Notification No. 42/2001-CE (N.T.) dated June 26, 2001, concerning conditions and procedures for export without payment of duty, excluding Nepal and Bhutan. The amendment, effective April 19, 2007, modifies the interest rate specified in paragraph 2, clause (v), sub-clause (b) and Annexure-II, clause (d) of the notification. The previous rate of twenty-four percent per annum is replaced with the interest rate prescribed under section 11AB of the Central Excise Act, 1944. This change aligns the interest rate with the statutory provisions of the Central Excise Act.
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