Customs - Warehouse - No 'Crude' Interest
INTEREST is liable to be paid on imported goods stored in a warehouse beyond the time stipulated. However, Board is given the power to specify the class of goods in respect of which no interest is to be charged.
CBEC has specified ‘crude', imported and stored in underground rock caverns as a class of goods in respect of which no interest shall be charged under the said section 61.
Notification No.., Dated: December 23, 2015
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