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Section 129EE: Interest on delayed refund of amount deposited under section 129E.

The Customs Act, 1962Central Act · Act 52 of 1962

[129EE. Interest on delayed refund of amount deposited under section 129E.--Where an amount deposited by the appellant under section 129E is required to be refunded consequent upon the order of the appellate authority, there shall be paid to the appellant interest at such rate, not below five per cent. and not exceeding thirty-six per cent. per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette, on such amount from the date of payment of the amount till, the date of refund of such amount:

Provided that the amount deposited under section 129E, prior to the commencement of the Finance (No. 2) Act, 2014 (25 of 2014), shall continue to be governed by the provisions of section 129EE as it stood before the commencement of the said Act.]

Where this provision sits

ActThe Customs Act, 1962
Section129EE
Marginal noteInterest on delayed refund of amount deposited under section 129E.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 25 of 2014. . Subs. by Act 25 of 2014, s. 90, for section 129EE (w.e.f. 6-8-2014).

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