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Custody under Customs Act enables SEZ/FTWZ units to dispose unclaimed goods through prescribed e auction procedures and regulatory clearances. Units in SEZs/FTWZs are deemed custodians under Section 48 of the Customs Act and must follow a prescribed disposal procedure for unclaimed or abandoned goods: prepare and share detailed cargo lists with the Specified Officer, obtain SAO/Group no objections and any external regulatory clearances or sample testing, issue notices to importers, value consignments via approved valuers to set reserve prices, conduct e auctions under specified bid acceptance and multi round rules, file consolidated buyer wise bill(s) of entry for successful bidders, and ensure duty assessment, release of goods, and disbursement of sale proceeds in accordance with statutory provisions.
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.
<h1>Custody under Customs Act enables SEZ/FTWZ units to dispose unclaimed goods through prescribed e auction procedures and regulatory clearances.</h1> Units in SEZs/FTWZs are deemed custodians under Section 48 of the Customs Act and must follow a prescribed disposal procedure for unclaimed or abandoned goods: prepare and share detailed cargo lists with the Specified Officer, obtain SAO/Group no objections and any external regulatory clearances or sample testing, issue notices to importers, value consignments via approved valuers to set reserve prices, conduct e auctions under specified bid acceptance and multi round rules, file consolidated buyer wise bill(s) of entry for successful bidders, and ensure duty assessment, release of goods, and disbursement of sale proceeds in accordance with statutory provisions.
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