Warehousing extension: Chief Commissioners must grant limited, conditional extensions emphasizing goods' condition and accrued interest payment. Section 61 empowers Commissioners and Chief Commissioners to extend warehousing periods; Chief Commissioners must exercise this power restrictively to curb bonded stock and revenue lock-up. Extensions beyond Commissioners' grants should be for the shortest feasible period and only longer where circumstances beyond the importer's control exist. Authorities must ensure goods' condition and may require testing; accrued interest for prior warehousing must be paid before further extension and will be adjusted against final liability. Certain categories of imports may receive a more liberal approach, and trade should file timely applications.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Warehousing extension: Chief Commissioners must grant limited, conditional extensions emphasizing goods' condition and accrued interest payment.
Section 61 empowers Commissioners and Chief Commissioners to extend warehousing periods; Chief Commissioners must exercise this power restrictively to curb bonded stock and revenue lock-up. Extensions beyond Commissioners' grants should be for the shortest feasible period and only longer where circumstances beyond the importer's control exist. Authorities must ensure goods' condition and may require testing; accrued interest for prior warehousing must be paid before further extension and will be adjusted against final liability. Certain categories of imports may receive a more liberal approach, and trade should file timely applications.
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