Warehousing interest slab basis clarified: benefit of lower slab rates applies across warehousing periods for goods. The circular clarifies that interest on goods under the customs warehousing provision is to be charged on a slab basis, applying the graded scale period-wise so that lower rates apply to earlier periods of warehousing and higher rates only to later periods, rather than a single rate at the date of clearance.
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Warehousing interest slab basis clarified: benefit of lower slab rates applies across warehousing periods for goods.
The circular clarifies that interest on goods under the customs warehousing provision is to be charged on a slab basis, applying the graded scale period-wise so that lower rates apply to earlier periods of warehousing and higher rates only to later periods, rather than a single rate at the date of clearance.
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