Duty remission for natural loss permits relief when volatile warehoused goods suffer storage-related evaporation or depletion. Remission of customs duty is available where warehoused goods are deficient due to natural loss, with administrative discretion exercised by customs ... Summary
Duty remission for natural loss permits relief when volatile warehoused goods suffer storage-related evaporation or depletion.
Remission of customs duty is available where warehoused goods are deficient due to natural loss, with administrative discretion exercised by customs officers; an issued notification identifies categories of volatile or storage-sensitive goods-including fuels in tanks, alcoholic beverages in casks, certain gases in containers, and crude in caverns-for which such remission is contemplated based on volatility and storage method.
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