Time limit for keeping goods under bond with customs

If goods are not intended for use in 100% EOU, warehousing period is 1 year from date on which order of warehousing is made u/s 60. Commissioner can extend such period by 6 months, Chief Commissioner can extend for any further period. However, beyond 90 days from date of deposit of goods in warehouse, interest is payable at 15% p.a. on duty payable at the time of filing Bill of Entry for home consumption.

Bond executed u/s 59 itself is a record. 

Goods can be kept in warehouse upto one year, Extension can be obtained. Interest is payable for warehousing beyond 90 days, @ 15%.

FOR MORE INFORMATION:

https://www.dateyvs.com/custom09.htm