https://www.taxtmi.com/circulars?id=1561 Custodians may initiate time bound disposal of unclaimed cargo after notifying consignees and forwarding lists to Customs; absent Customs objections within the notice period, custodians proceed. Disposal responsibility lies with the custodian, which fixes the reserve price through a panel of approved valuers; Customs may provide an appraiser on request. Auctions must be publicly advertised; unsold goods at the first auction are re offered by sealed tender or e auction and sold to the highest bidder. Bids are cum duty with duty back calculated; custodians file consolidated Bills of Entry for duty assessment and goods release occurs after duty payment. en-us Wed, 28 Jan 2004 00:00:00 +0530 Sat, 28 Feb 2009 18:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1561 Custodians may initiate time bound disposal of unclaimed cargo after notifying consignees and forwarding lists to Customs; absent Customs objections within the notice period, custodians proceed. Disposal responsibility lies with the custodian, which fixes the reserve price through a panel of approved valuers; Customs may provide an appraiser on request. Auctions must be publicly advertised; unsold goods at the first auction are re offered by sealed tender or e auction and sold to the highest bidder. Bids are cum duty with duty back calculated; custodians file consolidated Bills of Entry for duty assessment and goods release occurs after duty payment. Circulars Customs Wed, 28 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1561