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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Customs Act Section 61 amended: New rules on warehouse duration for goods, interest charges, and potential waivers.</h1> Section 61 of the Customs Act has been replaced to specify the duration goods can remain in a warehouse. Capital goods for export-oriented units or technology parks can stay until clearance. Other goods for such units remain until consumption or clearance. All other goods can stay up to one year, extendable by the Commissioner for a year at a time. Interest is charged on goods remaining beyond ninety days, with potential waivers or exemptions by the Board. Definitions for technology park units and export-oriented undertakings are included.
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