CBEC reduces interest rate on delayed payment of duty to 13 % - 066/2003 - Central Excise - Non Tariff

Superseded vide notification no.  6/2011 CE(NT) dated 1-3-2011 with effect from 1.4.2011

CBEC reduces interest rate on delayed payment of duty to 13 %

NOTIFICATION NO. 66/2003-CE(N.T.)

DATED 12/09/2003

In exercise of the powers conferred by section 11AB of the Central Excise 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. 19/2002-Central Excise (N.T.), dated the 13th May, 2002 [GSR 355(E), dated the 13th May, 2002], except as respect things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at thirteen percent per annum for the purpose of the said section.