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APPLICABILITY OF PENALTY ON WAREHOUSED GOODS

Customs - Started By: - CS RAHUL AGARWAL - Dated:- 6-2-2016 Last Replied Date:- 8-2-2016 - In case of warehoused goods kept in warehouse for a period longer than permissible (more than 5 years in this case as it is 100% EOU) interest u/s 61 (2) read with NN. 28/2002 is payable for the delay along with duty. My query is that whether penalty is also payable ? Whereas S. 59 (1) (c) provides for imposing penalty for violation of any provision of the custom act, does not clearance of goods within the .....

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