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of <h1>Interest Applies on Warehoused Goods Stored Over 90 Days Under Section 61(2) of Customs Act 1962</h1> Interest is applicable on warehoused goods that remain stored beyond ninety days as per Section 61(2) of the Customs Act, 1962. If the goods specified in clause (c) of sub-section (1) of Section 61 exceed this period following the proper officer's order under Section 60(1), interest is charged on the duty amount due at clearance. The interest rate is determined by the Central Government under Section 47, calculated from the end of the ninety-day period until the duty payment date.
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