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of <h1>Customs Act: 90-Day Interest-Free Period for Warehoused Goods Starts on Deposit Date per Section 61 Clarification.</h1> The circular clarifies the commencement of the 90-day interest-free period under Section 61 of the Customs Act, 1962. According to the Act, interest is payable on warehoused goods that remain in a warehouse beyond 90 days. The circular specifies that this 90-day period begins on the date the goods are deposited in the warehouse. This interpretation aligns with the definition of 'warehoused goods' in Section 2(44) of the Act. Any issues with implementing this clarification should be reported to the Board.
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