Drawback-Period of payment reduced from 3 to 2 months - interest on delayed payment

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Full Text of the Document

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....ent), Act 1998 (No. 8 of 1999) dated 8th January, 1999. The Act received the assent of the President on 8th January, 1999. The amendment Act has reduced the period of three months provided in Section 75-A (1) and (2) of the Customs Act, 1962 to two months, within which period the drawback shall be paid to exporters. Where drawback is not paid within the reduced period of the two months, the Centra....