Amendment of section 114.
82. In the Customs Act, in section 114, for clause (ii), the following clause shall be substituted, namely:-
“(ii) in the case of dutiable goods, other than prohibited goods, subject to the provisions of section 114A, to a penalty not exceeding ten per cent. of the duty sought to be evaded or five thousand rupees, whichever is higher:
Provided that where such duty as determined under sub-section (8) of section 28 and the interest payable thereon under section 28AA is paid within thirty days from the date of communication of the order of the proper officer determining such duty, the amount of penalty liable to be paid by such person under this section shall be twenty-five per cent. of the penalty so determined;”.
Notes on Clauses:
Clause 82 of the Bill seeks to amend section 114 of the Customs Act, so as to substitute clause (ii) thereof to specify a penalty not exceeding ten per cent. of the duty sought to be evaded or five thousand rupees, whichever is higher. The clause further seeks to provide that where such duty as determined under subsection (8) of section 28 and the interest payable thereon under section 28AA, is paid within thirty days from the date of communication of the order of the proper officer determining such duty, the amount of penalty liable to be paid by such person under this section shall be twenty-five per cent. of the penalty so determined.
