Procedure for disposal of unclaimed/ uncleared cargo under section 48 of the Customs Act, 1962, lying with the custodians

Disposal of unclaimed cargo: custodians may auction goods after valuation, customs scrutiny, and duty assessment.

Procedure for disposal under Section 48 applies to goods landed at least one year earlier; custodians must submit detailed lists, issue 15 day notices to consignees and display notices. Customs has 15 days to mark consignments for retention or dispute; otherwise the custodian may sell. Custodians fix reserve prices via Government approved valuers; customs samples 10% of consignments for inventory. Disposal is by public auction/e auction/tender (publicized), with up to four auctions and the last auction selling to the highest bidder. Bidding is on a cum duty basis, duty is back calculated, consolidated Bills of Entry are filed buyer wise, and proceeds are shared under Section 150.