The SCN demands differential duty, interest and penalties. The amount involved is very small compared to our turnover. We intend to pay the duty and interest demanded and 15 per cent of the duty amount as penalty in accordance with Section 28(5) of the Customs Act, 1962 and get the matter closed. Our only worry is whether payment of penalty will bar us from claiming benefits or facilitations that require us to declare that we have not been penalised under, besides other legislations, the Customs Act, 1962.
Please advice. SCN is only a demand notice and not an adjudicating order penalising you. So, if you pay the penalty in accordance with the said Section 28(5) and if the matter is dropped in accordance with Section 28(6)(i) of the Customs Act, 1962, you can very well give declarations that you have not been penalised.
This story is from the October 16, 2024 edition of Business Standard.
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This story is from the October 16, 2024 edition of Business Standard.
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