CBIC: CBIC doubles the fine, and also amended the arrest and bail rules

Posted on 18th Aug 2022 02:20 pm by rohit kumar

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.

 

Also Read: Divorce Case: Not living with a husband without solid reason is a kind of torture, court's comment in a divorce case

Other news

Shraddha Murder Case Update: Aftab has no regrets, even the Mumbai Police were not suspicious in the initial inquiry

Delhi Police is trying to find the concrete evidence against Aftab Amin Poonawalla, accused of br

Uttarkashi Cloudburst: Kheer Ganga has returned to its old place, scientists clarified based on satellite images

In the pain of Dharali, we can see man's big mistake in not understanding nature. Of course, the

Rinku-Priya Engagement: Rinku Singh and Priya Saroj danced fiercely after the engagement, and big names gathered at the ceremony;

Indian cricketer Rinku Singh has tied the knot. On Sunday, the star player got engaged to Samajwa

2024 Election: No opposition unity on 40 seats of Bihar; The constituents of Indie Alliance will keep watching, only the grand alliance remains.

In Bihar, the effort of opposition unity started against Prime Minister Narendra Modi in May-June

Kunal Kamra: 'I will not apologize to Eknath Shinde, I am not afraid of the crowd'; Kamra said- Ajit Pawar had also said the same

Comedian Kunal Kamra is constantly in the headlines after making controversial comments about Mah

Parliament Security Breach: 'Sir, sir you are saying you are not answering, now I tell you...' Rajya Sabha Chairman got angry at this statement of Jaya Bachchan

So far 141 MPs have been suspended following the uproar over Parliament security lapses. These su

Petrol Diesel Price Today: Oil companies have released the prices of petrol and diesel, know how much the prices are in your city

Petrol Diesel Price: Oil companies have released the prices of petrol and diesel for today. Today

Modi-Putin: India and Russia will increase exchange programs for students and athletes, and cooperation will expand into new areas, announces PM Modi.

Prime Minister Narendra Modi held a joint press conference with Russian President Vladimir Putin

Stree 2: Shraddha Kapoor reached the court of Shirdi Sai Baba, celebrated the success of 'Stree 2', took blessings

Shraddha Kapoor and Rajkummar Rao's 'Stree 2' is a sequel to the blockbuster horror comedy Stree,

Ryan Burle of Zimbabwe sees his glimpse in Rishabh Pant, and does not become a threat to Team India!

The three-match ODI series between India and Zimbabwe is to begin on August 18. The Indian team w