Mis-declaration of goods in SEZ unit attracts penalty u/s 112(a) & 114A. Option for reduced 25% penalty if duty+interest paid timely.

Mis-declaration of goods in SEZ unit attracts penalty u/s 112(a) & 114A. Option for reduced 25% penalty if duty+interest paid timely. https://www.taxtmi.com/highlights?id=80138 Mis-declaration of quantity and value of goods in SEZ unit - penalty u/ss 112(a) and 114A of Customs Act 1962. Option for reduced 25% penalty u/s 114A to be extended if duty, interest, and 25% penalty paid within one month. Penalty u/s 112(a) set aside as Section 114A penalty imposed. Director's penalty u/ss 112(a) and 114A reduced considering undertaking to pay duty, interest, and penalty, and overall facts. Appeals partly allowed. en-us Tue, 06 Aug 2024 07:49:51 +0530 Tue, 06 Aug 2024 07:49:51 +0530 TaxTMI RSS Generator Mis-declaration of goods in SEZ unit attracts penalty u/s 112(a) & 114A. Option for reduced 25% penalty if duty+interest paid timely. https://www.taxtmi.com/highlights?id=80138 Mis-declaration of quantity and value of goods in SEZ unit - penalty u/ss 112(a) and 114A of Customs Act 1962. Option for reduced 25% penalty u/s 114A to be extended if duty, interest, and 25% penalty paid within one month. Penalty u/s 112(a) set aside as Section 114A penalty imposed. Director's penalty u/ss 112(a) and 114A reduced considering undertaking to pay duty, interest, and penalty, and overall facts. Appeals partly allowed. Highlights Customs Tue, 06 Aug 2024 07:49:51 +0530 https://www.taxtmi.com/highlights?id=80138