Procedure for disposal of un-claimed/un-cleared cargo under section 48 of the Customs Act, 1962, lying with the custodians https://www.taxtmi.com/circulars?id=62727 Procedure mandates custodians to list unclaimed cargo over 30 days, notify importers under section 48, and forward inventories to Disposal Branch. Disposal Branch segregates consignments needing retention, regulatory clearances or chemical analysis and issues NOCs for lots fit for auction. Custodians must value lots, hold e-auctions with staged reserve-price rules, and file consolidated bills of entry for successful bidders; Customs shall assess duty and release goods on payment, with sale proceeds disbursed under section 150. en-us Fri, 21 Dec 2018 00:00:00 +0530 Thu, 10 Oct 2019 13:02:00 +0530 TaxTMI RSS Generator Procedure for disposal of un-claimed/un-cleared cargo under section 48 of the Customs Act, 1962, lying with the custodians https://www.taxtmi.com/circulars?id=62727 Procedure mandates custodians to list unclaimed cargo over 30 days, notify importers under section 48, and forward inventories to Disposal Branch. Disposal Branch segregates consignments needing retention, regulatory clearances or chemical analysis and issues NOCs for lots fit for auction. Custodians must value lots, hold e-auctions with staged reserve-price rules, and file consolidated bills of entry for successful bidders; Customs shall assess duty and release goods on payment, with sale proceeds disbursed under section 150. Circulars Customs Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62727