Customs Act, 1962 — Chapter XVII: Miscellaneous
150. Procedure for sale of goods and application of sale proceeds
- Where any goods not being confiscated goods are to be sold under this Act, they shall, after notice to the owner (unless he cannot be found/refuses to accept notice/his address is unknown), be sold by public auction/tender, or, with the Central Government’s consent, in any other manner.
- The proceeds of any such sale are applied in the following order: (a) payment of expenses of the sale; (b) payment of freight and other charges (if payable by the owner and not already recovered) and any charges payable to the person having custody of the goods; (c) payment of duty (if any) on the goods sold; (d) payment of charges due for storage/removal/other services rendered in respect of the goods; (e) payment of duty, and other sums due from the owner in relation to those goods, or otherwise; the balance, if any, is paid to the owner.
