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Penalty increase for customs contraventions: statutory amendment raises the monetary threshold affecting penalty applicability and computation. Amendment increases the prescribed monetary threshold for penalties under the Customs Act by substituting the lower monetary amount in section 158(2)(ii) with a higher specified amount; enacted through the Finance (No. 2) Act, 2019, the change requires officials and affected persons to apply the revised figure when determining applicability and quantum of penalty under that clause.
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<h1>Penalty increase for customs contraventions: statutory amendment raises the monetary threshold affecting penalty applicability and computation.</h1> Amendment increases the prescribed monetary threshold for penalties under the Customs Act by substituting the lower monetary amount in section 158(2)(ii) with a higher specified amount; enacted through the Finance (No. 2) Act, 2019, the change requires officials and affected persons to apply the revised figure when determining applicability and quantum of penalty under that clause.
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