Warehousing date for interest calculation must be entered in ICES for ex-bond bills before filing; scrip-paid duty requires manual calculation. ICES 1.5 now calculates warehousing interest under Section 61 for ex-bond Bills of Entry when duty is paid in cash, effective 16.10.2012, and requires entry of the warehousing date in the SUP or SUX roles before filing; duties paid by reward scrips must be calculated manually. Warehousing date is the relevant date for the interest-free period, and an annexed Certificate of Warehousing must be produced to evidence the date of deposit for goods removed to bonded warehouses.
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 date for interest calculation must be entered in ICES for ex-bond bills before filing; scrip-paid duty requires manual calculation.
ICES 1.5 now calculates warehousing interest under Section 61 for ex-bond Bills of Entry when duty is paid in cash, effective 16.10.2012, and requires entry of the warehousing date in the SUP or SUX roles before filing; duties paid by reward scrips must be calculated manually. Warehousing date is the relevant date for the interest-free period, and an annexed Certificate of Warehousing must be produced to evidence the date of deposit for goods removed to bonded warehouses.
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