25-April-2024
Taxation
 
Customs violations: Monetary limit for legal action raised
18-Aug-2022

The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday increased the threshold monetary limit for prosecution and arrest for customs violations. In baggage and outright smuggling cases, the threshold market value of goods or foreign currency has been increased from over Rs 20 lakh to over Rs 50 lakh for legal action. In the case of commercial frauds, the threshold value of offending goods has been enhanced to Rs 2 crore from Rs 50 lakh.

News Source:- https://www.financialexpress.com/economy/customs-violations-monetary-limit-for-legal-action-raised/2634097/