Demand of differential duty

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..... 1. My question is when any case is book by the Customs, under which section differential duty may be demanded in case of undervaluation and misclassification, when SCN is given u/s 124 of the Customs Act, 1962 ? 2. If only IGM is filed and BE has not filed by the importer; can the person who booked the cargo can be liable for penalty if it contains any restricted goods/prohibited goods? Plea .....

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..... se quote any relevant judgement in this case, if possible? - Reply By YAGAY andSUN - The Reply = Restricted goods can only be imported/exported after getting the authorization and the consent from appropriate Ministry. The prohibited goods cannot be imported/exported at all. Therefore, liable to be confiscated and penalty/compounding fee must be levied. - Reply By raghunandhaanan rvi - The Re .....

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..... ply = If the imported goods are misclassified or mis-declared, such goods are liable for confiscation under Section 111(m) of the CA'62 and impose a penalty under section 112(a) of CA'62 . In the case the value of imported goods is undervalued, that value can be rejected by customs under Rule 12 of the CVR 2007 and proceed to re-determine the value in accordance to rule 4 t .....

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..... o 9 sequentially. thereafter the importer is liable to pay the duty on the redetermined value of goods. Customs demand notice can be issued under section 28 of the Customs Act 1962 . - Demand of differential duty - Query Started By: - manjeet singh Dated:- 28-6-2022 Customs - Import - Export - Customs - SEZ - Got 2 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by .....

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..... an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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