https://www.taxtmi.com/caselaws?id=53731 The warehousing interest-free period under Section 61 of the Customs Act was reduced by amendment from six months to one month with effect from 1-6-2001, and the amended provision applied to goods cleared from bond after that date. Interest became payable on clearance on the duty then due, because the relevant event was removal from the warehouse rather than the original date of warehousing. The amendment operated prospectively to post-commencement removals, so goods taken out after 1-6-2001 attracted interest under the revised rule and the refund claim failed. en-us Thu, 18 Nov 2004 00:00:00 +0530 Fri, 15 Oct 2010 09:42:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53731 The warehousing interest-free period under Section 61 of the Customs Act was reduced by amendment from six months to one month with effect from 1-6-2001, and the amended provision applied to goods cleared from bond after that date. Interest became payable on clearance on the duty then due, because the relevant event was removal from the warehouse rather than the original date of warehousing. The amendment operated prospectively to post-commencement removals, so goods taken out after 1-6-2001 attracted interest under the revised rule and the refund claim failed. Case-Laws Customs Thu, 18 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53731