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of <h1>Section 114A Customs Act Penalty: Equal to Duty/Interest, Reduced if Paid in 30 Days; No Section 112/114 Penalties.</h1> Section 114A of the Customs Act, 1962 mandates penalties for cases involving non-levied or short-levied duties, unpaid or partially paid interest, or erroneous refunds due to collusion or willful misstatements. The liable party must pay a penalty equal to the determined duty or interest, reducible to 25% if paid within 30 days of the order. Adjustments by appellate authorities affect the penalty calculation. If penalties under Section 114A are applied, no penalties under Sections 112 or 114 will be imposed. Suspension of a Customs Broker's license requires careful consideration and is reserved for urgent cases.
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