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Substitution of new section for section 61- Period for which goods may remain warehoused

Clause 125 - Bills - INDIRECT TAXES Customs - FINANCE BILL, 2016 - Clause 125 - Substitution of new section for section 61 125. In the Customs Act, for section 61, the following section shall be substituted, namely:- Period for which goods may remain .....

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or electronic hardware technology park unit or software technology park unit or any warehouse wherein manufacture or other operations have been permitted under section 65, till their clearance from the warehouse; (b) in the case of goods other than c .....

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65, till their consumption or clearance from the warehouse; and (c) in the case of any other goods, till the expiry of one year from the date on which the proper officer has made an order under sub-section (1) of section 60: Provided that in the cas .....

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Provided further that where such goods are likely to deteriorate, the period referred to in the first proviso may be reduced by the Principal Commissioner of Customs or Commissioner of Customs to such shorter period as he may deem fit. (2) Where any .....

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s may be fixed by the Central Government under section 47, on the amount of duty payable at the time of clearance of the goods, for the period from the expiry of the said ninety days till the date of payment of duty on the warehoused goods: Provided .....

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ion in respect of any warehoused goods; (b) by notification in the Official Gazette, specify the class of goods in respect of which no interest shall be charged under this section; (c) by notification in the Official Gazette, specify the class of goo .....

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