Priya Co. Ltd. imported goods from a foreign country and the goods were kept in the private warehouse licensed under section 58 of the Customs Act, 1962. What is the time period to keep the goods in warehouse without pay

CS Executive · Tax Laws · PYQS · June 2023
Priya Co. Ltd. imported goods from a foreign country and the goods were kept in the private warehouse licensed under section 58 of the Customs Act, 1962. What is the time period to keep the goods in warehouse without payment of duty?
(A) 5 years
(B) 3 years
(C) 1 year
(D) 6 months

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Customs Act

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