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of <h1>Customs Act 1962 Amendments: Duty on Re-Imported Goods, Relinquishing Title, Warehousing Durations, and Interest Provisions Updated</h1> The amendment to the Customs Act, 1962, introduces changes to sections 20, 23, 59, 59A, 60, 72, 73, and 61. Section 20 now stipulates that re-imported goods are subject to duty unless specific conditions are met, such as importation within three years and proof of identity by the Assistant Collector of Customs. Section 23 allows owners to relinquish title to imported goods before clearance, exempting them from duty. Section 61 specifies warehousing durations for goods, with provisions for extension and interest on overdue warehousing. Certain sections and clauses are omitted, and interest waivers may be granted under exceptional circumstances.
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