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of <h1>Board Can Waive Interest on Warehoused Goods Under Exceptional Circumstances per Section 61(2) of Customs Act, 1962.</h1> Section 61(2) of the Customs Act, 1962 allows the Board to waive interest on warehoused goods in the public interest under exceptional circumstances. This can be done by issuing an order specifying the conditions for such a waiver. Additionally, the Board can issue notifications in the Official Gazette to identify classes of goods exempt from interest charges or specify when interest becomes chargeable. These provisions are detailed in the CBEC's Customs Manual 2025, serving as a reference guide for customs law and practice.
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