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of <h1>Section 61 of Customs Act 1962: Warehouse Duration, Interest on Duty, and Extensions Explained</h1> Section 61 of the Customs Act, 1962, outlines the duration goods can remain in a warehouse. Capital goods for export-oriented units or technology parks can stay until clearance, while other goods can remain until consumption or clearance. General goods can be stored for one year, extendable by the Principal Commissioner of Customs. If goods remain beyond 90 days, interest on duty is charged from the 91st day until duty payment. The Board may waive interest under exceptional circumstances or specify goods exempt from interest. Definitions are provided for technology park units and export-oriented undertakings.
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