Customs Act, 1969

CHAPTER-XX

SETTLEMENT OF CASES

From: 2023-08-01 - To: 0000-00-00 1[202A. Levy of surcharge.- Notwithstanding anything contained in this Act and without prejudice to any other action that may be taken thereunder, if any person fails to pay the arrears within the prescribed time, he shall, in addition to the arrears, be liable to pay surcharge at the rate of 2[KIBOR plus three per cent per annum], of the total amount of arrears. Explanation.- For the purpose of calculating surcharge, the period of…