https://www.taxtmi.com/circulars?id=1034 Imported goods lying unclaimed in Air Cargo Complexes may be sold under statutory disposal power after custodians prepare monthly lists of consignments older than 45 days, notify consignees and allow 15 days for Customs to withhold items. A valuation committee with custodian, government valuers and a Customs appraiser fixes reserve prices and segregates prohibited imports. Auctions are publicly advertised, conducted by government-approved auctioneers on a cum-duty basis with staged reserve reductions for unsold perishable and non perishable goods, and gross proceeds are shared 50:50 with custodians bearing sale-related costs. en-us Wed, 11 Feb 1998 00:00:00 +0530 Mon, 04 Aug 2025 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1034 Imported goods lying unclaimed in Air Cargo Complexes may be sold under statutory disposal power after custodians prepare monthly lists of consignments older than 45 days, notify consignees and allow 15 days for Customs to withhold items. A valuation committee with custodian, government valuers and a Customs appraiser fixes reserve prices and segregates prohibited imports. Auctions are publicly advertised, conducted by government-approved auctioneers on a cum-duty basis with staged reserve reductions for unsold perishable and non perishable goods, and gross proceeds are shared 50:50 with custodians bearing sale-related costs. Circulars Customs Wed, 11 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1034