Clarification on the commencement of the interest free period of 90 days under Section 61 of the Customs Act, 1962 – Reg.

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..... hief Commissioners of Customs/Customs (Preventive) All Chief Commissioners of Customs and Central Excise All Commissioners of Customs / Customs (Preventive) All Commissioners of Central Excise and Customs All Directors General under CBEC. Subject: Clarification on the commencement of the interest free period of 90 days under Section 61 of the Customs Act, 1962 Reg. Madam/Sir, .....

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..... e . Section 61 further indicates that the warehoused goods have to remain in the warehouse beyond a period of ninety days, for the interest to be chargeable. 3. Thus, a harmonious reading of the wording of Sub-section 2 (ii) of Section 61 and the definition of the term warehoused goods indicates that when the goods deposited in a warehouse remain warehoused beyond a period of ninety days .....

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