https://www.taxtmi.com/circulars?id=6017 Interest on customs duty is payable where goods were dutiable at the time of initial warehousing, and such interest must be calculated with reference to the rate of duty assessed at warehousing. A subsequent exemption of duty does not automatically relieve the importer from interest liability accrued up to the date of exemption unless the interest is specifically waived under the proviso to Section 61(2) of the Customs Act, 1962. en-us Fri, 15 Sep 1989 00:00:00 +0530 Mon, 29 Jun 2009 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6017 Interest on customs duty is payable where goods were dutiable at the time of initial warehousing, and such interest must be calculated with reference to the rate of duty assessed at warehousing. A subsequent exemption of duty does not automatically relieve the importer from interest liability accrued up to the date of exemption unless the interest is specifically waived under the proviso to Section 61(2) of the Customs Act, 1962. Circulars Customs Fri, 15 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6017