Customs Notification No. 18/2011 (NT) dated 01/03/2011
Central Government fixes the rate of interest at eighteen percent. per annum for
the purposes of the section 28AB of the Customs Act, 1962.
G.S.R. (E).- In exercise of the powers conferred by section 28AB 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.76/2003-Customs (N.T.),
dated the 12th September, 2003[GSR (E), dated the 12th September, 2003], except
as respects things done or omitted to be done before such supersession, the
Central Government hereby fixes the rate of interest at eighteen percent. per
annum for the purposes of the said section.
This notification shall come into force from the 1st day of April, 2011.
[F. No. 334/3/2011 - TRU]
(Sanjeev Kumar Singh)
Under Secretary to the Government of India