Delayed Refunds - 24% Interest - 041/2000 - Central Excise - Non Tariff

Delayed Refunds - 24% Interest

In exercise of the powers conferred by section 11BB 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. 22/95-Central Excise (N.T.), dated the 29th May, 1995, except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at fifteen per cent. per annum for the purposes of the said section.