https://www.taxtmi.com/manuals?id=7501 Section 112 prescribes penalties for acts or omissions making goods liable to confiscation or for dealing with such goods. Penalty categories depend on the status of the goods: prohibited goods, dutiable goods (for duty evasion), and overvaluation of declared value. Where duty and interest are paid promptly a reduced penalty applies. For overlapping breaches the highest applicable penalty among the relevant categories is imposed. en-us Fri, 21 Feb 2025 12:31:39 +0530 Fri, 21 Feb 2025 12:31:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=7501 Section 112 prescribes penalties for acts or omissions making goods liable to confiscation or for dealing with such goods. Penalty categories depend on the status of the goods: prohibited goods, dutiable goods (for duty evasion), and overvaluation of declared value. Where duty and interest are paid promptly a reduced penalty applies. For overlapping breaches the highest applicable penalty among the relevant categories is imposed. Manuals Customs Fri, 21 Feb 2025 12:31:39 +0530 https://www.taxtmi.com/manuals?id=7501