Interest on delayed payment of duty

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....bsp; thereunder, the person, who is liable to pay duty in accordance with the provisions of section 28, shall, in addition to such duty, be liable to pay  interest, if any, at the rate fixed under sub-section (2), whether such payment is made voluntarily or after determination of the duty under that section. (2) Interest at such rate not below ten per cent. and not exceeding thirty-six per....

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....ing any right to appeal against the said payment at any subsequent stage of such payment.]     ************** NOTES:- 1.  Inserted vide Section 57 of the Finance Act, 1995 w.e.f. 26-05-1995 2.  Substituted vide Section 61 of the Finance (No. 2) Act, 1996 w.e.f. 28-09-1996 before it was read as, "Where a person"&nb....

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....sociation Vs Union of India 8.  Inserted vide Schedule of the National Tax Tribunal Act, 2005. This amendment has been struck down by the Supreme Court's order dated 25th September, 2014 the Madras Bar Association Vs Union of India 9.  Substituted vide Section 43 of the Finance Act, 2011 w.e.f. 08-04-2011 before it was read as, "^1[28AA. Inte....

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....ll, 1995 receives the assent of the President, fails to pay such duty within three months from such date, then, such person shall be liable to pay interest under this section from the date immediately after three months from such date, till the date of payment of such duty. Explanation 1.-Where the duty determined to be payable is reduced by the Commissioner (Appeals), Appellate Tribunal ....