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Mumbai Customs Preventive under the Office of Commissioner has announced a major e auction of seized gold jewellery 414 grams (in 8 lots) through MSTC Limited to be conducted in Mumbai. The auction carries number MSTC WRO Customs Preventive Mumbai 26-27 3414 and will be held on April 28 2026 from 12 PM to 4 PM with a single day inspection scheduled on April 22 2026 at the New Customs House Annex Building Ballard Pier.
The catalogue was released on April 13 2026 and the auction is currently not activated. The auction will follow an auto extension of 8 minutes, meaning last minute bids will extend closing time. Participation requires item wise pre bid EMD deposit and all bids will be accepted strictly on as is where is basis and no complaint condition, placing full responsibility on bidders to verify materials before bidding.
The seller is Customs Preventive Mumbai and payments are to be made in favor of the Office of Commissioner of Customs Preventive through Reserve Bank of India Fort Branch Mumbai account.
A total of 8 lots of assorted gold jewellery are available with different weights and EMD requirements. The lots include
Lot GJ 5 with 88.25 grams gold jewellery and EMD Rs 300000
Lot GJ 6 with 5.92 grams and EMD Rs 25000
Lot GJ 7 with 41.15 grams and EMD Rs 150000
Lot GJ 8 with 29.92 grams and EMD Rs 120000
Lot GJ 9 1 with 71.3 grams and EMD Rs 275000
Lot GJ 9 2 with 109 grams and EMD Rs 400000 which is the highest quantity lot
Lot GJ 9 3 with 41.50 grams and EMD Rs 170000
Lot GJ 35 includes 27 grams consisting of one gold bangle and one gold ring of 22 karat with EMD Rs 120000
All lots have a starting price of just 1 rupee with minimum bid increment of 1 rupee making the auction highly competitive.
Successful bidders must deposit post bid EMD of 25 percent within 3 days of acceptance and complete full payment within 5 days. Delay in payment will attract 1 percent weekly penalty plus GST and may also lead to forfeiture of EMD and account deactivation.
The auction operates under GST reverse charge mechanism, which means only bidders with valid GST registration can participate and they will be responsible for paying applicable taxes directly to authorities.
Important Points:
Buyer(GST) need to Register - participate - emd keep account - h1 rank - amount deducted automatically - remaining amount within 5days
Bidders are required to inspect the material physically on the scheduled date. Authorities have clearly stated that no complaints regarding quality quantity or condition will be entertained after bidding. Photos provided in the catalogue are only for reference and cannot be relied upon for final assessment.
Once a bid is submitted, it cannot be withdrawn and bidders must ensure accuracy before placing bids. The system may also display a warning if a bid exceeds five times the current highest bid.
After successful payment, delivery orders will be issued digitally and buyers must lift the material within 8 days. Failure to do so will attract ground rent of 1 percent per week plus GST.
In case of delay beyond allowed limits, the seller has discretion to extend delivery period with additional charges. Buyers must arrange their own transportation and follow all safety and compliance rules during lifting of goods.
All bidders must comply with GST laws under reverse charge mechanism, and failure to deposit taxes or payments within stipulated timelines can result in penalties forfeiture and suspension of bidding account. The auction is governed by multiple conditions including general terms auction specific terms and seller specific conditions with strict enforcement.
This Mumbai Customs gold auction 2026 presents a significant opportunity to purchase seized gold jewellery legally through a government platform, but requires strict compliance with payment schedules inspection rules and GST obligations.
Auction Notice Catalogue
You can also check : Mumbai Gold eAuctions
