Lawgist150Procedure for sale of goods and application of sale proceeds
(1) Where any goods not being confiscated goods are to be sold under any provisions of this Act, they shall, after notice to the owner thereof, be sold by public auction or by tender or with the consent of the owner in any other manner.
(2) The proceeds of any such sale shall be applied--
(a) firstly to the payment of the expenses of the sale,
(b) next to the payment of the freight and other charges, if any, payable in respect of the goods sold, to the carrier, if notice of such charges has been given to the person having custody of the goods,
(c) next to the payment of the duty, if any, on the goods sold,
(d) next to the payment of the charges in respect of the goods sold due to the person having the custody of the goods,
(e) next to the payment of any amount due from the owner of the goods to the Central Government under the provisions of this Act or any other law relating to customs,
and the balance, if any, shall be paid to the owner of the goods.
1[Provided that where it is not possible to pay the balance of sale proceeds, if any, to the owner of the goods within a period of six months from the date of sale of such goods or such further period as the 2[Principal Commissioner of Customs or Commissioner of Customs] may allow, such balance of sale proceeds shall be paid to the Central Government.]
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1. The proviso ins. by Act 8 of 2011, s. 52 (w.e.f. 8-4-2011).
2. Subs. by Act 25 of 2014, s. 78, for "Commissioner of Customs" (w.e.f. 6-8-2014).
- 141 Conveyances and goods in a customs area subject to control of officers of customs
- 142 Recovery of sums due to Government
- 142A Liability under Act to be first charge
- 143 Power to allow import or export on execution of bonds in certain cases
- 143A Omitted.
- 143AA Power to simplify or provide different procedure, etc., to facilitate trade
- 144 Power to take samples
- 145 Owner, etc., to perform operations incidental to compliance with customs law
- 146 Licence for Customs brokers
- 146A Appearance by authorised representative
- 147 Liability of principal and agent
- 148 Liability of agent appointed by the person in charge of a conveyance
- 149 Amendment of documents
- 150 Procedure for sale of goods and application of sale proceeds
- 151 Certain officers required to assist officers of customs
- 151A Instructions to officers of customs
- 151B Reciprocal arrangement for exchange of information facilitating trade
- 152 Delegation of powers
- 153 Modes for service of notice, order, etc
- 154 Correction of clerical errors, etc
- 154A Rounding off of duty, etc
- 154B Publication of information respecting persons in certain cases
- 155 Protection of action taken under the Act
- 156 General power to make rules
- 157 General power to make regulations
- 158 Provisions with respect to rules and regulations
- 159 Rules, certain notifications and orders to be laid before Parliament
- 159A Effect of amendments, etc., of rules, regulations, notifications or orders
- 160 Repeal and savings
- 161 Removal of difficulties
