Interest calculation under Section 61: ICES requires correct warehousing date to file ex-bond bills and determine interest-free period. ICES 1.5 now includes a facility to record the warehousing date for automated calculation of interest under the Customs Act for ex-bond bills of entry. The warehousing date must be entered by designated Superintendent roles for warehoused bills and at the customs location for into-bond bills; importers and CHAs must ensure the correct warehousing date is recorded before filing ex-bond bills, since filing is not possible without it and that date governs the interest-free period.
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.
Interest calculation under Section 61: ICES requires correct warehousing date to file ex-bond bills and determine interest-free period.
ICES 1.5 now includes a facility to record the warehousing date for automated calculation of interest under the Customs Act for ex-bond bills of entry. The warehousing date must be entered by designated Superintendent roles for warehoused bills and at the customs location for into-bond bills; importers and CHAs must ensure the correct warehousing date is recorded before filing ex-bond bills, since filing is not possible without it and that date governs the interest-free period.
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