https://www.taxtmi.com/manuals?id=7503 Section 114A fixes a mandatory penalty equal to the duty or interest determined where there is collusion, willful misstatement or suppression leading to short levy or erroneous refund; payment of the determined duty or interest and applicable interest within thirty days of communication reduces the penalty, and appellate alterations of duty or interest govern penalty recalculation and the availability of the reduced penalty, with prior payments adjusted against total liability and a bar on invoking other overlapping penalty provisions. en-us Fri, 21 Feb 2025 12:32:41 +0530 Fri, 21 Feb 2025 12:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=7503 Section 114A fixes a mandatory penalty equal to the duty or interest determined where there is collusion, willful misstatement or suppression leading to short levy or erroneous refund; payment of the determined duty or interest and applicable interest within thirty days of communication reduces the penalty, and appellate alterations of duty or interest govern penalty recalculation and the availability of the reduced penalty, with prior payments adjusted against total liability and a bar on invoking other overlapping penalty provisions. Manuals Customs Fri, 21 Feb 2025 12:32:41 +0530 https://www.taxtmi.com/manuals?id=7503