Customs Act 1962: Severe Penalties for Duty Evasion Over Rs.50 Lakhs and Mis-declaration of Goods Exceeding Rs.1 Crore

The Customs Act, 1962 outlines penalties for customs offenses, including imprisonment up to seven years and fines for involvement in activities such as mis-declaration of goods, evasion of duties, and fraudulent claims for duty exemptions. Severe penalties apply if the market price of goods exceeds Rs.1 crore or if duty evasion exceeds Rs.50 lakhs. Repeat offenders face harsher sentences. Lesser offenses under sections like 132, 133, and 134 involve imprisonment up to three years or fines. Section 135AA penalizes unauthorized publication of customs information with imprisonment up to six months or fines.