Interest for storage beyond permissible period - CBEC's Customs Manual 2023 - Customs

11. Interest for storage beyond permissible period: 11.1 As per Section 61(2) of the Customs Act, 1962 ,in the event where any warehoused goods specified in clause (c) of sub-section (1) of Section 61 of Customs Act 1962 remain in a warehouse beyond a period of ninety days from the date on which the proper officer has made an order under sub-section (1) of section 60 , interest shall be payable at such rate as may be fixed by the Central Government under section 47 , on the amount of duty payable at the time of clearance of the goods, for the period from the expiry of the said ninety days till the date of payment of duty on the warehoused goods.