Had a couple of queries.
1. U/s 15 of the Customs act, 1962, the date for referring Duty rate and tariff value for goods exported shall be the date on which Shipping bill is approved, i.e receipt of "Let export Order".
But again u/s 51 the proper officer under customs doesnt make an order permitting clearance and loading of goods for clearance i.e "Let export Order" unless he is satisfied that the exporter has paid the duty.
Though export duty is leviable on a limited number of goods and the rates are generally the same, my query is how is it practically possible to know the rates existing on the LEO date while paying the duties in advance?
2. What is the current interest rate applicable for delay in payment of duty (Above 5 days) 18% or 15 %?
3. What is the current duty rate applicable to Baggages 10% or 35%?
Thankyou.
CAclubindia
