Interest Waiver on Warehoused Goods: Section 61(2) Allows 7-Day Relief for Delays Beyond Bonder's Control.

The circular addresses the issue of charging interest on warehoused goods under Section 61(2) of the Customs Act, 1962. It clarifies that interest may be waived for a period of seven days if the duty on warehoused goods has been paid but the goods are not cleared from the warehouse due to reasons beyond the control of the bonder. The Central Board of Excise & Customs requests that such cases be forwarded for consideration, provided the reasons for the delay in clearing the goods are verified as genuine.

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