Penalty reduction under central excise law decreases specified statutory fines, narrowing enforcement exposure for certain offences. The Finance Act, 2007 amends section 37 of the Central Excise Act by substituting the existing monetary amounts in subsection (4) and subsection (5) with ... Summary
Penalty reduction under central excise law decreases specified statutory fines, narrowing enforcement exposure for certain offences.
The Finance Act, 2007 amends section 37 of the Central Excise Act by substituting the existing monetary amounts in subsection (4) and subsection (5) with lower fixed penalty figures, thereby reducing the statutory fines specified in those two subsections; no other changes to the operative language of section 37 are made.
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