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Notes on clauses - Customs

Notes-2 - Notes on clauses - Bill - Notes-2 - Customs Clause 80 of the Bill seeks to amend section 28 of the Customs Act, so as to- (i) insert a proviso in sub-section (2) thereof to provide that where notice under clause (a) has been served and the proper officer is of the opinion that the amount of duty with interest leviable under section 28AA or the amount of interest, as the case may be, as specified in the notice, has been paid in full within thirty days from the date of receipt of the not .....

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s refund where show cause notice has been issued under subsection (1) or sub-section (4), as the case may be, but an order determining duty under sub-section (8) has not been passed before the date on which the Finance Bill, 2015 receives the assent of the President, shall, without prejudice to the provisions of sections 135, 135A and 140, as may be applicable, be deemed to be concluded, if the payment of duty, interest and penalty under the proviso to sub-section (2) or under sub-section (5), a .....

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r 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. 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 highe .....

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