Interest for storage beyond permissible period

Interest on warehoused goods accrues after the permissible storage period and is chargeable on duty until payment.

Interest is payable where specified warehoused goods remain beyond ninety days from the date of the proper officer's order; interest applies on the amount of duty payable at clearance for the period from expiry of the ninety days until payment, at the rate fixed by the Central Government under the statute governing interest rates on customs duties.