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

1 Like 0 Dislike
Previous news Next news
Other news

Chandrayaan-3: PM Modi dominated the BRICS conference due to the success of Chandrayaan, congratulations from world leaders

A banquet dinner was organized during the BRICS summit on Wednesday. Prime Minister Modi was the

Who pushed Mamata Banerjee? CM was discharged from the hospital after treatment, doctor gave a health update

West Bengal Chief Minister Mamata Banerjee fell for some reason while walking at her residence la

Sam Bahadur Vs Animal: Will Vicky beat Animal with a global opening of Rs 100 crore? Know the status of booking

Ranbir Kapoor and Bobby Deol starrer 'Animal' has been in the headlines ever since its teaser was

Who is Vivian Dsena's ex-wife who refused to go to Bigg Boss 18? The marriage broke in just 3 years.

The controversial reality show Bigg Boss 18 has started and this season has seen the entry of som

Pilibhit Encounter: Three Khalistani terrorists killed in encounter, two AK-47s recovered; had attacked a police post in Punjab

Three Khalistani terrorists killed in Pilibhit were accused of attacking a police post in Gurdasp

Delhi Election 2025: How did Congress increase Kejriwal's tension? A new twist in Delhi's election battle; Understand the whole math

Congress is putting in all its efforts to regain its lost political ground in Delhi. Along with f

Baba Siddique Murder Case: Why did Shahrukh Khan not attend his close friend's last rites? This is the reason given.

Nationalist Congress Party (NCP) leader Baba Siddiqui was shot dead in Mumbai on Saturday night.

IND vs SL: Sri Lanka team announced for T20I series against India, new captain selected; Senior player dropped

The Sri Lankan team has been announced for the three-match T20I series against India (Ind vs Sl T

India Canada Crisis: 'Trudeau is sheltering extremists and criminals who have fled from India', former Canadian official reveals the truth

The real face of Canada, which questioned India over the Nijjar murder case, has been exposed by

Summer came before time: Demand for cooling products, and soft drinks increased, and prices increased by 7-25% in February

AC-fridge sales have increased by more than 10% this month. Soft drinks, milk drinks, water, and

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash