The information provided here is part of Import Export Training online
Cargo arrived destination crossed 30 days in India
Auction of imported goods by customs – When does auction of imported goods take place ?
Imported goods are auctioned if importer has not filed necessary import documents for clearance within a stipulated period of time. Procedures to auction imported goods takes place, once after intimation to importer.
So, importer needs to file necessary import customs clearance documents at customs location of destination port within a specified period of time of arrival. Cargo arrived destination crossed 30 days of arrival in India.
Can Importer take delivery? Importer files Bill of Entry, but not completed procedures. What is the difference between unclaimed goods and un-cleared goods in imports?
I have explained, about the importance of filing import documents within 30 days of arrival of cargo, otherwise the custodian can auction the cargo by informing importer and necessary permission from customs department. These goods are called ‘unclaimed goods’.
What happens if importer files bill of entry within the stipulated period of 30 days of arrival, but not completing procedures within the stipulated period. The term is called ‘un-cleared goods’. This happens due to various reasons such as lack of demand for the goods in local market, financial problem of importer to take delivery of goods, dispute with overseas supplier after filing bill of entry etc.
Once after filing bill of entry with customs, the ‘entry of documents’ accounted. If the importer not taken initiative for further process of bill entry within the allowed period, the cargo declares as ‘un-cleared goods’. The import duty is attracted during these periods. The custodian and carrier of goods are to be paid storage charges (demurrage) apart from customs duty. Here, the custodian and carrier can arrange to re-sell or auction the cargo after necessary approval from customs and settle the charges of customs, custodian and carrier and pays back the balance amount to importer if available. In India, these formalities are followed as per section 48 and 150 of Indian customs Act, 1962.
Auction of imported goods are taken place if necessary import documents not filed with customs for clearance procedures at destination customs location. Import goods auction is arranged by customs department of importing country, the carrier of goods and the custodian of goods. The procedures to auction imported goods are completed by either of these authorities or by all of them.
Did you come to know the consequences of not filing import documents within a specified period for import delivery goods?
The above information is a part of Export Import Training online
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