Bharti Company imported goods valued at ₹ 10,00,000 vide a Bill of Entry presented before the proper officer on 15th July on which date the rate of…

Bharti Company imported goods valued at ₹ 10,00,000 vide a Bill of Entry presented before the proper officer on 15th July on which date the rate of customs duty was 20%. The proper officer decided that the goods should be subject to chemical or other test and therefore, the same were provisionally assessed at a value of ₹ 10,00,000 and Bharti company paid provisional duty of ₹ 2,00,000 on the same date. Bharti Company wants to voluntarily pay duty of ₹ 1,50,000 on 20th August. The amount of interest payable under section 18 of the Customs Act, 1962 is ________ assuming that the payment of ₹ 1,50,000 as stated above is made on 20th August, and that the final duty is assessed on 31st August at ₹ 4,00,000 and the balance duty is paid on the same day.