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of <h1>Ministry of Finance Empowers Principal Collectors to Declare Warehousing Stations, Extend Warehousing Periods Under Customs Act.</h1> The circular from the Ministry of Finance delegates powers to Principal Collectors to declare warehousing stations and extend the warehousing period for goods under the Customs Act. Guidelines include considering industrial development, available facilities, and customs staff for new warehousing stations. Extensions are granted if goods remain in good condition, with a maximum of six months at a time and generally not exceeding one year. A liberal approach may be taken for specific cases like ship stores, diplomatic goods, and 100% EOUs. Monthly reports on extensions are required for potential interest charge waivers. Extensions should be granted cautiously to prevent revenue blockage.
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