https://www.taxtmi.com/acts?id=1110 Section 114 of the Customs Act, 1962 imposes penalty for any act or omission, or abetment of such act or omission, in relation to goods where the conduct would render the goods liable to confiscation under section 113. The penalty structure varies according to the nature of the goods. In the case of goods subject to prohibition, the penalty may extend to three times the value of the goods as declared or determined. In the case of dutiable goods other than prohibited goods, the penalty is linked to the duty sought to be evaded, with a reduced penalty where the determined duty and interest are paid within thirty days. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 19 Jun 2026 12:11:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=1110 Section 114 of the Customs Act, 1962 imposes penalty for any act or omission, or abetment of such act or omission, in relation to goods where the conduct would render the goods liable to confiscation under section 113. The penalty structure varies according to the nature of the goods. In the case of goods subject to prohibition, the penalty may extend to three times the value of the goods as declared or determined. In the case of dutiable goods other than prohibited goods, the penalty is linked to the duty sought to be evaded, with a reduced penalty where the determined duty and interest are paid within thirty days. Act-Rules Customs Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=1110