Levy of interest on delayed payment of duty - relevant date under Section 47 (2) of the Customs Act, 1962

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..... date under section 47(2) of the customs Act -reg. - I am directed to invite your attention on the subject mentioned above and to state that a case was referred to for clarification on certain doubts regarding levy of interest for delayed payment of duty under Section 47(2) of the Customs Act, 1962 where the bill of entry for certain imports was assessed provisionally denying the benefits of EPCG .....

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..... been examined in consultation with the Ministry of Law. Department of Legal Affairs. It has been clarified that the interest in cases similar to as cited above would be payable on the reassessed amount for the period 2 days after the date of original assessment to the date of payment of duty. 3. Kindly acknowledge receipt of the letter. (Rajendra Singh) UNDER SECRETARY TO THE GOVERNMENT OF INDIA .....

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