**Policy Summary:**
This notification, No. 24/2014-CE (N.T.), issued by the Department of Revenue, Ministry of Finance, Government of India, dated August 12, 2014, concerns the rate of interest under Section 35FF of the Customs Act, 1944. The notification, G.S.R. 580(E), fixes the rate of interest at six percent per annum for the purpose of the said section. The notification is issued in exercise of the powers conferred by Section 35FF of the Customs Act, 1944 (1 of 1944). For further information, contact Sunil K. Sinha, Director, referencing F. No. 390/Budget/1/2012-JCPt.
Key Entities Referenced
Ministry of Finance: The Union Government Ministry responsible for financial matters in India.
Department of Revenue: A department under the Ministry of Finance, Government of India, responsible for tax collection.
Customs Act, 1944: An Indian legislation related to customs duties and regulations.
Central Government: The executive authority of the Union of India.
New Delhi: The capital city of India.
Sunil K. Sinha: Director in the government, as indicated by the notification.
Section 35FF of the Customs Act, 1944: Section of the Customs Act, 1944 mentioned in the notification, regarding powers conferred to the central government.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (i)
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PUBLISHED BY AUTHORITY
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No. 420] NEW DELHI, TUESDAY, AUGUST 12, 2014/SHRAVANA 21, 1936
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No. 24/2014-CE (N.T.)
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G.S.R. 580(E).—In exercise of powers conferred by
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Section 35FF of the Customs Act, 1944 (1 of 1944), the
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Central Government hereby fixes the rate of interest at six
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per cent per annum for the purpose of the said Section.
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[F. No. 390/Budget/1/2012-JC(Pt)
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SUNIL K. SINHA, Director
3183 GI/2014
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.