Allowance in case of volatile goods.

SECTION 70.

(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.

Note :-

1. Substituted (w.e.f. 11-5-1999) by section 100 of the Act 27 of 1999,for "Assistant Commissioner of Customs". Earlier the words "Assistant Commissioner of Customs" were substituted (w.e.f. 26-5-1995) by section 50 of the Act 22 of 1995, for the words "Assistant Collector of Customs".