TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Customs Act Section 61 Amended: Goods Cleared Post-May 14, 2003, Get 90-Day Interest-Free Period Regardless of Warehousing Date.</h1> Section 61 of the Customs Act, 1962 has been amended to impose interest on warehoused goods remaining beyond 90 days, with rates not exceeding those specified in Section 47. Clarification was sought regarding goods bonded before May 14, 2003, concerning their entitlement to an interest-free period of 30 or 90 days. It is clarified that all goods cleared after May 14, 2003, regardless of their warehousing date, are eligible for a 90-day interest-free period. This aligns with previous guidance from Circular No. 62/99, which applied revised interest rates to goods warehoused before May 12, 1999.
TaxTMI 
TaxTMI 
