Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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 Update: Interest on Warehoused Goods Simplified with Bank Guarantee Requirement, Exemptions for Certain Industries in Section 61.</h1> The circular addresses the payment of interest on warehoused goods under the amended Section 61 of the Customs Act, 1962. It outlines changes to simplify processes and enhance business ease. Previously, interest was collected before extending warehousing periods, causing importers to seek refunds if interest was not payable. Now, importers must furnish a bank guarantee as security, eliminating the need for prior interest payment or demand issuance. Interest will be settled upon goods' clearance from the warehouse. Certain industries are exempt from providing security. Any issues should be reported to the Board.
TaxTMI 
TaxTMI 
