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of <h1>Penalties for Improper Exportation Under Customs Act Section 114: Up to Three Times Value for Prohibited Goods</h1> Under Section 114 of the Customs Act, 1962, penalties are imposed for improper exportation of goods. If goods are liable for confiscation under Section 113, penalties apply as follows: for prohibited goods, up to three times their declared or assessed value; for dutiable goods, up to 10% of the evaded duty or Rs.5,000, whichever is higher, with a reduced penalty if payment is made within 30 days; and for other goods, up to their declared or assessed value. These penalties aim to deter violations and ensure compliance with customs regulations.
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