TMI Blogintrest on delayed payment of customs duty.X X X X Extracts X X X X X X X X Extracts X X X X ..... I know the delayed customs duty we have to pay interest @15% after two days of completion of B/E.. can some one let me know the provisions and respective customs notification for the same.. - Reply By Mahir S - The Reply = Sir, With reference to your above query , please refer the following :- (i) Section 47 (2) of the Customs Act, 1962, (ii) Customs Notification No. 28/2002 (N.T. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) dated 13.05.2002 . Hope the above shall clarify the matter. - Reply By PAWAN KUMAR - The Reply = Dear Ganesh Ji, the reply of mahir ji is correct. current rate of interst under 47(2) of customs act 1962 is 15%, however under section 28AA , 28AB it is 18%. But the period of five days has now two days under Section 47(2) and it has been amended by budget 2013-14. - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By GANESH IYER - The Reply = thanks you sirs.. for the information.. Ganesh Iyer - Reply By GANESH IYER - The Reply = is there any amendment after notn 28/2002 for intrest rate under 47 /2 of customs act 1962. .?? - Reply By PAWAN KUMAR - The Reply = Dear Sir, No amendment till date. - Reply By Mahir S - The Reply = Yes sir agreed to above views. - intrest on delayed payment of cust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oms duty. - Query Started By: - GANESH IYER Dated:- 12-6-2015 Customs - Import - Export - Customs - SEZ - Got 6 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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