Warehousing - Interest chargeable if goods dutiable when warehoused - Subsequent exemption from duty irrelevant

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ue) Central Board of Excise & Customs, New Delhi Subject : Warehousing - Interest chargeable if goods dutiable when warehoused - Subsequent exemption from duty irrelevant. I am directed to say that representations have been received by the Board from the trade against the levy of interest on the amount of customs duty on warehoused goods which are cleared from the warehouses without payment of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ecided that the interest shall be levied in cases where goods are cleared without payment of duty and such interest shall be calculated with reference to the rate of duty assessed, at the time of initial warehousing of the goods. Subsequently exemption of any kind shall not be regarded as automatically exempting such goods from interest liability.
Circular, Trade Notice, Public Notice, Instruc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X