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of <h1>Board Can Waive Interest on Warehoused Goods Under Section 61(2) of Customs Act, 1962 in Exceptional Cases</h1> Section 61(2) of the Customs Act, 1962 allows the Board to waive interest on warehoused goods under exceptional circumstances, if deemed necessary in the public interest. This waiver can be granted through an order specifying the exceptional nature of the circumstances. Additionally, the Board may issue notifications in the Official Gazette to specify classes of goods exempt from interest charges or to determine when interest becomes chargeable for certain goods, starting from the date a proper officer issues an order under section 60(1).
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