Delayed Payment of Duty - 24% Interest - 040/2000 - Central Excise - Non Tariff

Delayed Payment of Duty - 24% Interest (This Notification has been superseded vide Notification No. 19/2002-CE-(NT), dated 13/05/2002 ) Notification No. 40/2000-Central Excise(N.T.) Dated 12th May, 2000 In exercise of the powers conferred by section 11AB of the Central Excises Act, 1944 (1 of 1944) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.8/2000-Central Excise (N.T.), dated the 1st March, 2000 [G.S.R. 200 (E), dated the 1st March, 2000], except as respects things done or omitted. to be done before such supersession, the Central Government hereby fixes the rate of interest at twenty - four per cent, per annum for the purposes of the said section. F.No.B-6/4/2000-TRU (CBEC reduces interest rate on delayed payment of duty to 13 % - Vide NTF. NO. 66/2003-CE(N.T.), DT. 12/09/2003)