Interest on warehoused goods follows a reduced warehousing period, effective from 1 June 2001. Interest on warehoused goods was linked to a reduced warehousing period, with the period brought down from six months to thirty days with effect from 1 June 2001. The Central Government issued the notification in exercise of powers under section 106 of the Finance Act, 2001, and appointed 1 June 2001 as the operative date for the purposes of that section.