Section 70 of the Customs Act, 1962 – Allowance in case of volatile goods

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Section 70: Allowance in case of volatile goods

  • (1) When any warehoused goods to which this section applies are at the time of delivery from a warehouse found to be deficient in quantity on account of natural loss, the 1[Assistant Commissioner of Customs or Deputy Commissioner of Customs] may remit the duty on such deficiency.
  • (2) This section applies to such warehoused goods as the Central Government, having regard to the volatility of the goods and the manner of their storage, may, by notification in the Official Gazette, specify.

Source: official text of The Customs Act, 1962 as published on India Code (PDF). All sections of the Customs Act, 1962.

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