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<h1>Penalty for Non-Compliance Under Section 108B of Customs Act: 100 Daily Fine for Delayed Information Submission.</h1> Section 108B of the Customs Act, 1962, imposes a penalty on individuals who fail to provide required information under Section 108A within the specified timeframe. If the information is not furnished as directed in the notice, the responsible officer can impose a penalty of one hundred rupees for each day the failure continues. This provision was inserted by the Taxation Laws (Amendment) Act, 2017, effective from July 1, 2017.