https://www.taxtmi.com/article/detailed?id=16386 Penalty under section 114A of the Customs Act applies only where short levy, non-levy, or erroneous refund of duty or interest results from collusion, wilful misstatement, or suppression of facts. In import matters, classification is part of self-assessment, and an importer must declare the tariff heading according to its understanding, subject to re-assessment by customs authorities. Where the importer pays the differential duty with interest and informs the Department in writing, section 28(2) bars a notice in respect of that duty, interest, or any related penalty. en-us Mon, 11 May 2026 09:53:12 +0530 Mon, 11 May 2026 09:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16386 Penalty under section 114A of the Customs Act applies only where short levy, non-levy, or erroneous refund of duty or interest results from collusion, wilful misstatement, or suppression of facts. In import matters, classification is part of self-assessment, and an importer must declare the tariff heading according to its understanding, subject to re-assessment by customs authorities. Where the importer pays the differential duty with interest and informs the Department in writing, section 28(2) bars a notice in respect of that duty, interest, or any related penalty. Articles Customs - Import - Export - SEZ Mon, 11 May 2026 09:53:12 +0530 https://www.taxtmi.com/article/detailed?id=16386