https://www.taxtmi.com/article/detailed?id=5548 Disposal of unclaimed or uncleared imported goods is governed by Section 48 of the Customs Act, 1962, permitting sale after notice and officer permission where goods remain uncleared; custodians must notify consignees, submit consignments lists to Customs and await 15 days for Customs to flag restricted items. Valuation for reserve price is fixed by Government approved valuers appointed by the custodian, auctions or tenders (maximum four attempts) are publicly advertised, bids are cum duty with duty back calculated, and sale proceeds are distributed under Section 150 prioritising sale expenses, freight, duty, custodian charges and amounts due to government. en-us Wed, 02 Apr 2014 15:33:21 +0530 Wed, 02 Apr 2014 15:33:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5548 Disposal of unclaimed or uncleared imported goods is governed by Section 48 of the Customs Act, 1962, permitting sale after notice and officer permission where goods remain uncleared; custodians must notify consignees, submit consignments lists to Customs and await 15 days for Customs to flag restricted items. Valuation for reserve price is fixed by Government approved valuers appointed by the custodian, auctions or tenders (maximum four attempts) are publicly advertised, bids are cum duty with duty back calculated, and sale proceeds are distributed under Section 150 prioritising sale expenses, freight, duty, custodian charges and amounts due to government. Articles Customs - Import - Export - SEZ Wed, 02 Apr 2014 15:33:21 +0530 https://www.taxtmi.com/article/detailed?id=5548