https://www.taxtmi.com/acts?id=7897 Amendment to section 135 imposes criminal liability for knowingly engaging in misdeclaration of value, fraudulent evasion or attempted evasion of duty, dealing with goods liable to confiscation, attempts to export such goods, and fraudulent availing of drawback or duty exemptions; it provides tiered penalties: serious offences attract imprisonment up to seven years with fine and a one-year minimum unless special reasons are recorded, while other offences attract imprisonment up to three years, or fine, or both. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7897 Amendment to section 135 imposes criminal liability for knowingly engaging in misdeclaration of value, fraudulent evasion or attempted evasion of duty, dealing with goods liable to confiscation, attempts to export such goods, and fraudulent availing of drawback or duty exemptions; it provides tiered penalties: serious offences attract imprisonment up to seven years with fine and a one-year minimum unless special reasons are recorded, while other offences attract imprisonment up to three years, or fine, or both. Act-Rules F. Acts / Amendment Acts Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7897