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Amendment of section 47

Clause 118 - Bills - INDIRECT TAXES Customs - Bill - Clause 118 - 118. In the Customs Act, in section 47,- (a) in sub-section (1), the following proviso shall be inserted, namely:- Provided that the Central Government may, by notification in the Offi .....

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words payment of the said duty , the following shall be substituted, namely:- Where the importer fails to pay the import duty, either in full or in part, within two days (excluding holidays)- (a) from the date on which the bill of entry is returned .....

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s payment, at such rate, not below ten per cent. and not exceeding thirty-six per cent. per annum, as may be fixed by the Central Government, by notification in the Official Gazette. . Clause 118 of the Bill seeks to insert a proviso in sub-section ( .....

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