Unclaimed/uncleared cargo-guidelines for disposal and sharing of revenue between Port Authorities & Customs

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ect : Unclaimed/uncleared cargo-guidelines for disposal and sharing of revenue between Port Authorities & Customs It is directed to refer to Board's Circular No. 50/97-Cus. Dated 17.10.97 on above mentioned subject. In the said Circular, guidelines fror disposal of unclaimed/uncleared cargo and sharing of sale proceeds on the basis of 50:50 between the custodian and Customs were issued as a one....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... It is reiterated that instructions are being issued as an interim administrative arrangement to ensure disposal of unclaimed/uncleared cargo to reduce the congestion at Ports. As the requirement under section 150(2) of the Customs Act, 1962 is mandatory, the sharing of proceeds on the ratio of 50:50 is being adopted on a rough and ready basis, but in the final accounting of all auctioned goods r....