Notification No. 10/2001, Dated 01 March 2001

Seeks to supersede notification No. 30/99-Customs, dated 12-5-99 and fix rate of interest for warehoused goods at twenty four per cent. per annum under seftion 61(2) of the ustoms Act, 1962.

1st March, 2001

Notification No. 10/2001-Customs (N.T.)

In exercise of the powers conferred by clause (ii) of sub-section (2) of section 61 of the Customs Act, 1962 ( 52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 30/99-Customs (N.T.), dated the 12thMay, 1999, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs for the purposes of the said sub-section fixes the rate of interest at twenty-four per cent. per annum.

2. This notification shall come into force on the 16th day of March, 2001.

(T. R. Rustagi)

Joint Secretary to the Government of India

F.No.334/ 1 /2001 –TRU

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Notification No. 10/2001, Dated 01 March 2001

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