https://www.taxtmi.com/article/detailed?id=16293 Clause 88 of the Finance Bill 2026 proposes to amend Section 28(6) of the Customs Act 1962 so that the amount paid under Section 28(5) on voluntary compliance is deemed to be a charge for non-payment of duty rather than a punitive penalty. The amendment keeps the existing procedure, quantum, and timelines intact, but it does not by itself resolve the separate "no prior penalty" declaration requirements under the AEO Regulations 2018, MOOWR Regulations 2019, or the Foreign Trade Policy 2023. The article treats the reform as partial relief only. en-us Tue, 28 Apr 2026 07:30:18 +0530 Tue, 28 Apr 2026 07:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16293 Clause 88 of the Finance Bill 2026 proposes to amend Section 28(6) of the Customs Act 1962 so that the amount paid under Section 28(5) on voluntary compliance is deemed to be a charge for non-payment of duty rather than a punitive penalty. The amendment keeps the existing procedure, quantum, and timelines intact, but it does not by itself resolve the separate "no prior penalty" declaration requirements under the AEO Regulations 2018, MOOWR Regulations 2019, or the Foreign Trade Policy 2023. The article treats the reform as partial relief only. Articles Customs - Import - Export - SEZ Tue, 28 Apr 2026 07:30:18 +0530 https://www.taxtmi.com/article/detailed?id=16293