Request for an Extended Period of Warehousing under Section 61 of Customs Act, 1962 - Reference from Shipyards - Reg.

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..... 2012 To All Chief Commissioners of Customs All Chief Commissioners of Customs Central Excise Subject:- Request for an Extended Period of Warehousing under Section 61 of Customs Act, 1962 - Reference from Shipyards - Reg. ***** Madam/Sir, A reference is invited to the Board s office letter of even no. dated 1 st June 2011 wherein it is stated, inter alia .....

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..... ds are exempt from Customs duty when cleared for specified end uses. 2. In this connection, for the goods covered under the provisions of Section 61 (2) (ii) of the Customs Act, 1962 , interest amount is payable at the rates fixed by the Board on the duty payable on the warehoused goods, if the goods remain in the warehouse beyond a period of ninety days, for the period from the expir .....

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..... also safeguards revenue interest through a demand. 3. The phrase -- if interest accrued on the goods in the preceding period is realized was used in the letter dated 1 st June 2011 in view of the provisions of Section 61 (2) (ii) of the Act, ibid. However, only such interest is to be collected that is due. As evident from Circular 10/2006 , in cases referred to in paragraph 4 ther .....

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