Customs Act 1962

Confiscation of goods and conveyances and imposition of penalties

¹[Section 114AB. Penalty for obtaining instrument by fraud, etc

Where any person has obtained any instrument by fraud, collusion, wilful misstatement or suppression of facts and such instrument has been utilised by such person or any other person for discharging duty, the person to whom the instrument was issued shall be liable for penalty not exceeding the face value of such instrument.

Explanation.- For the purposes of this section, the expression “instrument” shall have the same meaning as assigned to it in the Explanation 1 to section 28AAA.’]

1. Inserted Vide Section 76 of the Finance Act 2019