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.
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.
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.
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