The Central Board of Indirect Taxes and Customs (CBIC) has amended the Prosecution, Arrest, and Bail Rules for offenses under the Customs Act. Under this, the fine has been doubled. Under the new rule, in the case of goods and direct smuggling, a fine of Rs 50 lakh will now be imposed, which was 20 lakh earlier. In commercial fraud, the penalty will be Rs 2 crore, which was earlier Rs 1 crore.
The CBIC said the Act does not fix any price limit for the exercise of the powers of arrest. But it is clarified that arrest in respect of an offense should be effective only in exceptional circumstances. This includes cases related to transfer of housing rules, and illegal imports, where the market value of the goods is 50 lakhs or more. Prohibited goods involving foreign exchange and the value of which is more than 50 lakhs.
arrest in these cases
Matters relating to the import of merchandise in which there is a willful wrong declaration in the description of the goods. Contains concealment of goods or import of prohibited goods. In such a case, if the market value is Rs 2 crore or more, an arrest can be made under the Customs Act.
will reduce litigation
KPMG partner Abhishek Jain said that as per the amended rules, the cases where financial seriousness is high, the arrests will start. Saurabh Agarwal, the Partner, EY, said this would help reduce litigation and bring better clarity to both the importers and the customs department.
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