When there is Delay payment of any Customs Duty interest has to be paid as per Indian government notification. The rate of interest for delay payment of duty is as follows:
13% upto 31.03.2011
18 % w.e.f 01.04.2011
15% w.e.f. 01.04.2016
Calculation Sheet may be prepared for instance as hereunder, it is for example only.
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