Warehousing period rules: differentiated retention, commissioner extensions, and interest on delayed clearance after an initial period. Section 61 establishes differentiated warehouse retention rules: capital goods for specified export and park units and permitted manufacturing warehouses remain until clearance; non-capital goods for such units remain until consumption or clearance; other goods remain for one year from the section 60 order subject to commissioner-granted extensions and shortening for deterioration. Interest at the rate fixed under section 47 is payable on duty for delays beyond an initial statutory short period, and the Board may waive interest, exempt classes, or specify alternate interest commencement dates. Definitions for park units and export oriented undertakings are provided.
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Warehousing period rules: differentiated retention, commissioner extensions, and interest on delayed clearance after an initial period.
Section 61 establishes differentiated warehouse retention rules: capital goods for specified export and park units and permitted manufacturing warehouses remain until clearance; non-capital goods for such units remain until consumption or clearance; other goods remain for one year from the section 60 order subject to commissioner-granted extensions and shortening for deterioration. Interest at the rate fixed under section 47 is payable on duty for delays beyond an initial statutory short period, and the Board may waive interest, exempt classes, or specify alternate interest commencement dates. Definitions for park units and export oriented undertakings are provided.
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