Period of Warehousing:
- Initial period-
Warehousing is allowed up to 6 months but , AC/DC may extend this period maximum up to further 6 months.
- Maximum period : 3 years from the date on which such goods were first warehoused.
Note – Excisable Goods shall be deemed to be cleared for home consumption on expiry of the warehousing period including the extensions granted ,if any ,.Duty and interest @ 24% p.a shall be charged on such deemed removal.