https://www.taxtmi.com/circulars?id=64686 Clearance of UCC cargo is effected by the custodian filing a Bill of Entry in the bidder's name, with customs duty and IGST assessed and paid by the custodian in that name. The sale proceeds are the cum-duty value because the duty portion is appropriated from the bid amount under the statutory appropriation mechanism. No amount beyond the bid value is demandable from the highest bidder; any additional taxes may be paid from the balance retained by the custodian, who must follow the appropriation procedure. en-us Fri, 12 Feb 2021 00:00:00 +0530 Thu, 18 Feb 2021 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64686 Clearance of UCC cargo is effected by the custodian filing a Bill of Entry in the bidder's name, with customs duty and IGST assessed and paid by the custodian in that name. The sale proceeds are the cum-duty value because the duty portion is appropriated from the bid amount under the statutory appropriation mechanism. No amount beyond the bid value is demandable from the highest bidder; any additional taxes may be paid from the balance retained by the custodian, who must follow the appropriation procedure. Circulars Customs Fri, 12 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64686