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Taxation Central Ministry of Finance Customs Act, 1962

Customs (Waiver of Interest) Third Order, 2023

17-Apr-2023 | Order No. 3/2023-Customs (N.T.)

CBIC has issued a notification regarding the Customs (Waiver of Interest) Third Order, 2023 waiving the interest payable under Section 47(2) for the period from 14th April 2023 till the date of removal of system inability and thereafter upto three days (including holidays), in respect of such goods relating to those Bills of Entry on which the duty payment for the specific Bill of Entry. By virtue of this order, now the waiver shall be given effect if the following conditions are fulfilled: 1. The duty and interest have been paid within 3 days (including holidays) from the date of removal of such system inability at the Common Portal, which shall be certified by the DG Systems; 2. The importer undertakes at the port of import to not pass on the incidence of such interest paid; and 3. The provisions of Section 27 of the Customs Act 1962 shall govern the consequential refund of such interest paid.

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