https://www.taxtmi.com/article/detailed?id=6101 Amendments adjust recovery of customs duties and penalties by: preserving distinct limitation periods for non-collusive and collusive cases; permitting full payment of duty and interest within a short cure period to avoid penalty and terminate proceedings; reducing the penalty rate for collusive or wilful misstatement cases when payment is made within the cure period; allowing issuance of show cause notices where voluntary payments fall short; and imposing procedural limits on determinations, computation of limitation periods and reopening of settled cases by the Settlement Commission. en-us Sat, 28 Feb 2015 17:13:02 +0530 Mon, 02 Mar 2015 11:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6101 Amendments adjust recovery of customs duties and penalties by: preserving distinct limitation periods for non-collusive and collusive cases; permitting full payment of duty and interest within a short cure period to avoid penalty and terminate proceedings; reducing the penalty rate for collusive or wilful misstatement cases when payment is made within the cure period; allowing issuance of show cause notices where voluntary payments fall short; and imposing procedural limits on determinations, computation of limitation periods and reopening of settled cases by the Settlement Commission. Articles Customs - Import - Export - SEZ Sat, 28 Feb 2015 17:13:02 +0530 https://www.taxtmi.com/article/detailed?id=6101