Amendment of section 47 of Customs Act, 1962 - option for ...

Deferred Payment Option Added to Customs Act 1962; Interest Rates Set for Late Import Duty Payments.

March 2, 2016

Act Rules Bill

Amendment of section 47 of Customs Act, 1962 - option for deferred payment of duty or other charges in the manner provided by the rules. - to empower the Central Government to fix the rate of interest not below ten per cent. and not exceeding thirty-six per cent. per annum where importer fails to pay import duty either in full or in part within two days from the date specified therein.

View Source

← Previous Next →

Amendment of section 47 of Customs Act, 1962 - option for ...

Deferred Payment Option Added to Customs Act 1962; Interest Rates Set for Late Import Duty Payments.

March 2, 2016

Act Rules Bill

You may also like:

Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

Levy of customs duty on import of wheat - rate of duty increased from 20% to 30%

Intention and Compliance with Notification Conditions - Import and sale of Motor Spirit, commonly known as Petrol - Availing of a concessional rate of Countervailing...

Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government...

In cases of spectrum allocation where the telecom operator opts for deferred payment instalments as per the Frequency Assignment Letter (FAL) issued by Department of...

Valuation of imported goods - payment for the services, sought to be included - The payment for the services, sought to be included by customs authorities in the...

Interest on refund - Rate of interest - The rate of interest is statutorily prescribed under section 27 (A) read with Notification issued there under according to which...

When does the liability to pay Service Tax arise upon assignment of right to use natural resource where the payment of auction price is made in 10 (or any number of)...

Interest on delayed refund at notified rate of interest (6%) to the appellant - enhanced rate of interest - The Commissioner (Appeals) has relied on the decision of...

Benefit of concessional rate of duty of import under Project Import Regulation, 1986 - same concessional rate of duty would have been available to the appellant if they...

Rate of Anti-dumping duty - Import of rubber chemicals CBS - at the time of import the rate of anti-dumping duty was ‘nil’ - stay granted - AT

Retrospective exemption granted from payment of any customs duty on import of "Rough diamonds (industrial or non-industrial)" for the period 1.7.2017 to 1.2.2022....

Import by EOU/EHTP/STP/BTP without payment of duty by Following Rule 5 of Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017

100% EOU - De-bonding - payment of duty on capital goods imported without payment of duty - Wrongful application of rates/period of depreciation - s per the Tribunal’s...

Clandestine removal of goods denied CENVAT credit. Liability for duty, interest, and penalty from FY 2007-08 to 2011-12 assessed. Differential duty demand of Rs....

Quick Updates: