https://www.taxtmi.com/circulars?id=59377 Prescribes an expedited procedure under Section 48 of the Customs Act, 1962 for disposal of unclaimed/un cleared cargo: custodians must list consignments unclaimed over thirty days, notify importers and shipping lines, prepare inventories and obtain Customs NOCs; Customs will segregate lots, require regulatory clearances or testing where necessary, and permit e auction of approved lots. Valuation by government approved valuers sets reserve prices; auctions follow a four round sequence with specified bid treatments. Post sale, custodians file consolidated bills of entry, Customs assesses duty within fifteen days, and goods are released on payment; sale proceeds are disbursed under Section 150. en-us Fri, 07 Dec 2018 00:00:00 +0530 Wed, 30 Jan 2019 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=59377 Prescribes an expedited procedure under Section 48 of the Customs Act, 1962 for disposal of unclaimed/un cleared cargo: custodians must list consignments unclaimed over thirty days, notify importers and shipping lines, prepare inventories and obtain Customs NOCs; Customs will segregate lots, require regulatory clearances or testing where necessary, and permit e auction of approved lots. Valuation by government approved valuers sets reserve prices; auctions follow a four round sequence with specified bid treatments. Post sale, custodians file consolidated bills of entry, Customs assesses duty within fifteen days, and goods are released on payment; sale proceeds are disbursed under Section 150. Circulars Customs Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=59377