Facility for calculation of interest under Section 61 of the Customs Act, 1962 for ex-bond Bill of Entry-regarding. - Customs - 54/2012

OFFICE OF THE COMMISSIONER OF CUSTOMS NEW CUSTOMS HOUSE, PANAMBUR, MANGALORE 575010 PUBLIC NOTICE No.54/2012 DATED 30.11.2012 Sub: Facility for calculation of interest under Section 61 of the Customs Act, 1962 for ex-bond Bill of Entry-regarding. It is hereby brought to the notice of trade and all concerned that a provision has been made in ICES 1.5 for calculation of interest under Section 61 of the Customs Act, 1962 for ex-bond bills of entry. The provision to enter the date of warehousing in respect of Warehoused bill of entry has been made in the SUP role of Superintendent (Docks) and in the SUX role of Superintendent (Bonds). However, warehousing date in respect of into-bond bill of entry can be entered at the custom location where into-bond bill of entry is filed and processed. Before filing ex-bond bill of entry, the importers/Custom House Agents have to ensure that the correct warehousing date has been entered inasmuch as without correct warehousing date, ex-bond bills of entry cannot be filed. It may be noted that warehousing date is the relevant date for calculating 90 days interest free period under Section 61 of the Customs Act, 1962. (Issued from C.No.S-26/03/2012 Cus. Tech) Sd/- (D. PURUSHOTHAM) COMMISSIONER