Relevant date for calculation of customs duty in cases where warehoused goods are cleared after the expiry of warehousing period

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... VIII] [From F.No. 475/19/94-LC, dated 18-9-1995] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise & Customs, New Delhi Subject : Relevant date for calculation of customs duty in cases where warehoused goods are cleared after the expiry of warehousing period. Reference to Board's instructions contained in F. No. 483/17/85-Cus. VII, dated 17th March, 19....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the bond period has expired. It was accordingly concluded that the residual clause of Section 15(1) (c) of the Customs Act could apply to cases where the goods are removed from a warehouse after expiry of the warehousing period and that the rate of duty in such cases shall the rate prevalent on the date of payment of duty. 3. The provisions of Section 15(1)(b) of the Customs Act would, however, c....