Monitoring of bonded goods: immediate stock-taking and prompt auction or recovery measures to secure unpaid import duties and interest. Mandated stock-taking and immediate initiation of assessment and recovery proceedings for consignments whose warehousing period (including extensions) has expired; if importers fail to pay, goods may be detained and auctioned under Section 72(2), with increased auction frequency and dedicated supervisory officers. Collectorates must submit quarterly returns detailing number of consignments, value of goods and duty involved, and include recovery progress in monthly administration reports; special reporting on time-expired machinery consignments is required to inform warehousing policy.
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.
Monitoring of bonded goods: immediate stock-taking and prompt auction or recovery measures to secure unpaid import duties and interest.
Mandated stock-taking and immediate initiation of assessment and recovery proceedings for consignments whose warehousing period (including extensions) has expired; if importers fail to pay, goods may be detained and auctioned under Section 72(2), with increased auction frequency and dedicated supervisory officers. Collectorates must submit quarterly returns detailing number of consignments, value of goods and duty involved, and include recovery progress in monthly administration reports; special reporting on time-expired machinery consignments is required to inform warehousing policy.
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