Unclaimed cargo disposal: auction proceeds to be shared between port authorities and customs; custodians must submit consignment accounts. Auction disposal is mandated for unclaimed and uncleared cargo received up to 31 December 1998 to reduce port congestion; proceeds are provisionally shared 50:50 between port authorities and Customs. Custodians must submit consignment wise accounts after disposal so that full duty collectible under section 150(2) of the Customs Act, 1962 is recovered from the disposal value; the 50:50 split is interim and subject to final statutory accounting.
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.
Unclaimed cargo disposal: auction proceeds to be shared between port authorities and customs; custodians must submit consignment accounts.
Auction disposal is mandated for unclaimed and uncleared cargo received up to 31 December 1998 to reduce port congestion; proceeds are provisionally shared 50:50 between port authorities and Customs. Custodians must submit consignment wise accounts after disposal so that full duty collectible under section 150(2) of the Customs Act, 1962 is recovered from the disposal value; the 50:50 split is interim and subject to final statutory accounting.
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