https://www.taxtmi.com/caselaws?id=434691 The judgment set aside the penalty imposed on a Customs broker for overvaluing goods during export, citing improper KYC verification. The court emphasized the importance of verifying importer/exporter details using authentic government-issued documents and clarified that physical verification of premises is not mandatory for brokers. The penalty under Regulation 17(7) was deemed unsustainable as it pertains to license suspension, not KYC verification. The court ruled in favor of the broker, stating that authentic document verification suffices and that the broker did not violate KYC provisions. en-us Tue, 28 Feb 2023 00:00:00 +0530 Thu, 02 Mar 2023 08:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434691 The judgment set aside the penalty imposed on a Customs broker for overvaluing goods during export, citing improper KYC verification. The court emphasized the importance of verifying importer/exporter details using authentic government-issued documents and clarified that physical verification of premises is not mandatory for brokers. The penalty under Regulation 17(7) was deemed unsustainable as it pertains to license suspension, not KYC verification. The court ruled in favor of the broker, stating that authentic document verification suffices and that the broker did not violate KYC provisions. Case-Laws Customs Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434691