New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Where any drawback payable to a claimant is not paid ____________ from the date of filing a claim for payment of such drawback, there shall be paid to that claimant in addition to the amount of drawback, interest at the rate fixed under section 27A from the date after the expiry of the said period till the date of payment of such drawback. 

    A Within a period of one month Correct Answer Incorrect Answer
    B Within a period of two months Correct Answer Incorrect Answer
    C Within a period of five months Correct Answer Incorrect Answer
    D Within a period of 12 months Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Within a period of one month, Explanation: Section 75A. Interest on drawback: (1) Where any drawback payable to a claimant under section 74 or section 75 is not paid within a 2[period of one month from the date of filing a claim for payment of such drawback, there shall be paid to that claimant in addition to the amount of drawback, interest at the rate fixed under section 27A from the date after the expiry of the said period of one month till the date of payment of such drawback.

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