(This Notification has been supersited vide Cus Ntf.No.10/2001 dt.1/3/2001)
CUS NTF NO. 30/1999 (NT) DATE 12/05/1999
Duration of Warehousing
In exercise of the powers conferred by clause (ii) of sub-section (2) of section 61 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, for the purposes of the said sub-section, fixes the following rates of interest, on amount of duty payable at the time of clearance of goods specified in sub-clause (b) of sub-section (1) of section 61 of the said Customs Act in accordance with the provisions of section 15 of the said Customs Act as applicable to the Warehoused goods, as given in column (3) of the Table below for said goods remaining in warehouse for the duration specified in corresponding entry in column (2) of the said Table.
TABLE
| Sl. No. | Duration of Warehousing | Rate of Interest |
|---|
| (1) | (2) | (3) |
|---|
| 1. | 6 to 9 months | 12 per cent per annum |
| 2. | 9 to 12 months | 16 per cent per annum |
| 3. | Beyond 12 months | 20 per cent per annum |
Sd/-
(N. K. Sinha)
Under Secretary to the Government of India
Presented by eximkey.com