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of <h1>Cochin Customs Introduces New Warehousing Interest Calculation System for Ex-bond Bills Under Customs Act Section 61.</h1> The circular from the Customs Office in Cochin informs importers, Customs House Agents, and stakeholders about the implementation of a new system for calculating warehousing interest on ex-bond Bills of Entry under Section 61 of the Customs Act, 1962. Effective from October 16, 2012, this functionality is available in the ICES 1.5 system, requiring the entry of warehousing dates by relevant customs officers. Importers must ensure warehousing dates are entered before filing ex-bond Bills of Entry. A certificate in a prescribed format must be produced for goods deposited in warehouses, detailing the relevant date of deposit.
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