https://www.taxtmi.com/circulars?id=999 Custodians are authorised to dispose of long standing unclaimed or uncleared import consignments through public auction using reserve prices fixed by custodians' approved valuers; customs must notify disputed or stayed consignments within specified response periods or lose objection rights. Valuations may be resolved by a three valuer panel; staged reductions in reserve price apply for perishable and non perishable goods after failed auctions, including simultaneous sealed tenders. Custodians must send periodic disposal lists and keep consignment wise accounts; sale proceeds are to be shared between custodians and customs on a 50:50 basis pending final accounting to ensure statutory duty recovery. en-us Fri, 17 Oct 1997 00:00:00 +0530 Wed, 06 Aug 2025 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=999 Custodians are authorised to dispose of long standing unclaimed or uncleared import consignments through public auction using reserve prices fixed by custodians' approved valuers; customs must notify disputed or stayed consignments within specified response periods or lose objection rights. Valuations may be resolved by a three valuer panel; staged reductions in reserve price apply for perishable and non perishable goods after failed auctions, including simultaneous sealed tenders. Custodians must send periodic disposal lists and keep consignment wise accounts; sale proceeds are to be shared between custodians and customs on a 50:50 basis pending final accounting to ensure statutory duty recovery. Circulars Customs Fri, 17 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=999