Penalty under section 114A applies to both customs duty and interest where collusion or willful suppression is found. Penalty under section 114A of the Customs Act, 1962 should be assessed to include both duty and interest; the Ministry of Law advised that the disjunctive conjunction 'or' may be read as 'and' to give effect to legislative intent, and field formations should apply this construction when imposing penalties for collusion, willful misstatement, or suppression of facts and issue Standing Orders accordingly.