Notification on 15% Interest for Warehoused Goods beyond 90 Days Rescinded

[Customs Notification No. 98 (Non Tariff) dated 8^th July 2016]

In exercise of the powers conferred by clause (ii) of sub-section (2) of section 61 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), number 18/2003-Customs, dated 1st march 2003, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section(i),vide number G.S.R.173(E), dated the 1st March 2003, except as respects things done or omitted to be done before such rescission.

F.No.484/23/2016-LC