Manner of payment of interest on warehoused goods

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..... All Chief Commissioners of Customs, All Chief Commissioners of Customs & Central Excise, All Directors General, Chief Departmental Representative, All Principal Commissioners of Customs, All Principal Commissioners of Customs & Central Excise, All Commissioners of Customs, All Commissioners of Customs & Central Excise. Sub: Manner of payment of interest on warehoused goods Section 6 .....

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..... finally exported. In certain industries, the Board had relaxed the above condition for extending the warehousing period but prescribed that a demand notice should be served upon the importer and the same decided upon clearance of the goods, i.e. when the liability became determinable (Para 7 of Circular 10/2006-Customs dated 14th Feb 2006). The extant circulars have been reviewed by the Board wit .....

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..... t of payment of interest prior to allowing extensions of warehousing period nor would there be any need to issue a demand for payment of interest. Interest, if any, shall be paid at the time of ex-bonding of the goods from the warehouse. 5. Difficulties, if any, should be brought to the notice of the Board. 6. Hindi version follows. (Temsunaro Jamir) Under Secretary to the Govt. of India
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