https://www.taxtmi.com/forum/issue?id=108131 Amendments modify penalty rules and settlement provisions under the Customs Act, 1962: Section 28 permits conclusion of proceedings without penalty where duty and interest are paid within thirty days in the absence of fraud or intent to evade, and reduces the penalty rate in fraud cases; Sections 112 and 114 limit penalties for dealing with dutiable goods and provide reduced penalty exposure where duty and interest are paid promptly after determination; several transitional and redundant Settlement Commission provisions and reopening powers are omitted or clarified, and cases referred back are excluded from settlement. en-us Sat, 28 Feb 2015 23:07:21 +0530 Thu, 23 Jan 2025 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108131 Amendments modify penalty rules and settlement provisions under the Customs Act, 1962: Section 28 permits conclusion of proceedings without penalty where duty and interest are paid within thirty days in the absence of fraud or intent to evade, and reduces the penalty rate in fraud cases; Sections 112 and 114 limit penalties for dealing with dutiable goods and provide reduced penalty exposure where duty and interest are paid promptly after determination; several transitional and redundant Settlement Commission provisions and reopening powers are omitted or clarified, and cases referred back are excluded from settlement. Discussion-Forum Customs Sat, 28 Feb 2015 23:07:21 +0530 https://www.taxtmi.com/forum/issue?id=108131