Download Document

English
Circular No. 1019/7/2016-CX
F. No. 96/18/2016-CX.I
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi, dated the 29
th
February, 2016
To
Principal Chief Commissioner / Chief Commissioner of Central Excise (All),
Principal Chief Commissioner / Chief Commissioner of Central Excise and Service
Tax (All),
Principal Commissioner of Central Excise, Service Tax (All),
Web-master, CBEC
Madam/sir,
Subject: Change in rate of interest on goods warehoused for export, when
cleared to DTA- reg.
Kind attention is invited to Board’s Circular No. 581/18/2001-CX, dated
29.06.2001, specifying conditions, procedures, class of exporters and places under
sub-rule (2) of rule 20 of Central Excise (No. 2), Rules, 2001 for Central Excise who
can avail facility of export warehousing.
2.Paragraph 10.3 in the said circular deals with liability of interest on goods,
warehoused for export, when diverted for home-consumption. In the said paragraph
10.3, for the words, symbols and figures, “interest @ 24% per annum ", the words,

symbols and figures, “interest @ 15% per annum ", shall be substituted. The change
would bring down the rate of interest to fifteen per cent. per annum.
3.This circular shall come into force on 1.4.2016. Field formations may be suitably
informed. Receipt of this Circular may please be acknowledged. Hindi version will
follow.
(Santosh Kumar Mishra)
Under Secretary to the Government of India
circulars no 1019 7 2016 cx | iKargos