Sale proceeds under customs law follow a fixed priority order, with remaining balance payable to the owner or the Central Government. Goods not being confiscated goods, when sold under the Customs Act after notice to the owner, must be disposed of by public auction, tender, or another mode consented to by the owner. The sale proceeds are applied in a fixed order: sale expenses, freight and other carrier charges after notice, customs duty, custodian's charges, and sums due to the Central Government under customs law. Any remaining balance is payable to the owner, but if unpaid within six months or an extended period allowed, it is paid to the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Sale proceeds under customs law follow a fixed priority order, with remaining balance payable to the owner or the Central Government.
Goods not being confiscated goods, when sold under the Customs Act after notice to the owner, must be disposed of by public auction, tender, or another mode consented to by the owner. The sale proceeds are applied in a fixed order: sale expenses, freight and other carrier charges after notice, customs duty, custodian's charges, and sums due to the Central Government under customs law. Any remaining balance is payable to the owner, but if unpaid within six months or an extended period allowed, it is paid to the Central Government.
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