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

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..... inance (Department of Revenue) 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 fr .....

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..... vice is enclosed). 3. The Board has decided 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. - Circula .....

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