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of <h1>India Updates Customs Rules: Pay Duty, Penalty, Interest for Offence Compounding; Rule 5 Revised for New Compounding Amounts.</h1> The Government of India issued Notification No. 118/2008 to amend the Customs (Compounding of Offences) Rules, 2005. The amendments stipulate that applications for compounding of offences will only be allowed if the duty, penalty, and interest are paid. Rule 5 has been revised to specify the compounding amount for various offences under the Customs Act, 1962, with amounts varying based on the type and frequency of the offence. Additionally, a new requirement is added to the application form to confirm payment of duty, penalty, and interest. These amendments took effect upon publication in the Official Gazette.
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