Skip to main content
FININ2MIN
Customs Act, 1962

Customs Act Section 150: Sale/application of proceeds

Reviewed by CA Nikhil Gupta · Last reviewed 30 August 2026

Customs Section 150 Explained

Sale/application of proceeds

XVII - MiscellaneousCURRENTCA Nikhil GuptaPublished 2026-06-13
Published analytical guide - official law remains controlling.

At a Glance

Section 150 - Sale/application of proceeds.

For Section 150, Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

Key professional control: For Section 150 — Sale/application of proceeds, Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

Finin2min Decode

Section 150 addresses “Sale/application of proceeds”. Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

Read Section 150 with the delegated law and instruments that govern general matters, including the version effective on the transaction date.

Decision question: Does the proposed treatment under Section 150 satisfy the provision-specific conditions for “Sale/application of proceeds”, the connected instrument and the available evidence?

Practical Example

A Customs matter invokes section 150 on “Sale/application of proceeds”. The working paper identifies the exact transaction, person, goods, customs station and date, then tests the section with connected Rules, Regulations, notifications, circulars and evidence.

Professional Alert

For Section 150 — Sale/application of proceeds, Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

This page explains Section 150; it does not reproduce the official provision. Quote only the Customs Act and the exact Rule, Regulation, notification or judgment applicable to “Sale/application of proceeds” for the relevant date.

Decision Steps

  1. Freeze the relevant date, customs station, goods, person and procedural route.
  2. Read the current section with definitions, explanations, provisos and cross-references.
  3. Map delegated legislation, notifications and allied DGFT or partner-agency requirements.
  4. Test jurisdiction, limitation, conditions, evidence and any burden-of-proof rule.
  5. Preserve the portal trail but verify the substantive legal entitlement separately.
  6. Record later amendments, judgments and local procedure before publication or transaction reliance.

Evidence Checklist

Common Errors

Related Sections

Finin2min Q&A

What does section 150 address?

Section 150 concerns “Sale/application of proceeds”. Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

What should be verified first for section 150?

For Section 150 — Sale/application of proceeds, Verify limitation, jurisdiction, pre-deposit, service and amendment chain.

Can this page replace the official wording of section 150?

No. For Section 150 — Sale/application of proceeds, use this guide to organise the analysis, then rely on the official Customs Act and the connected instrument or binding decision in force for the matter.

Official sources and scope

This page is an analytical or operational guide. The controlling wording, tariff item, notification conditions, portal version and judicial status must be checked in the official source applicable to the transaction date.

Source review date: 2026-07-28. Historical matters require the law and instrument version applicable to the relevant date.