, give to the owner of the goods or, where such owner is not known, the
person from whose possession or custody such goods have been seized, an option
to pay in lieu of confiscation such fine as the said officer thinks fit: | Previous |
Customs Act 1962
Confiscation of goods and conveyances and imposition of penalties
Section 125. Option to pay fine in lieu of confiscation (Relevant Updates)
*(1) Whenever confiscation of any goods is authorised
by this Act, the officer adjudging it may, in the case of any goods, the
importation or exportation whereof is prohibited under this Act or under any
other law for the time being in force, and shall, in the case of any other
goods
, give to the owner of the goods or, where such owner is not known, the
person from whose possession or custody such goods have been seized, an option
to pay in lieu of confiscation such fine as the said officer thinks fit:
1['Provided
that where the proceedings are deemed to be concluded under the proviso to
sub-section (2) of section 28 or under clause (i) of sub-section (6) of that
section in respect of the goods which are not prohibited or restricted,
3[no such fine shall be imposed] [helldodold[the
provisions of this section shall not apply]helldod]:
Provided further that] [helldodold[Provided that]helldod], without prejudice
to the provisions of the proviso to sub-section (2) of
section 115, such fine
shall not exceed the
market price
of the goods confiscated, less in the case of
imported goods
the duty chargeable thereon.
(2) Where any fine in lieu of confiscation of goods is imposed under sub-section (1), the owner of such goods or the person referred to in sub-section (1), shall, in addition, be liable to any duty and charges payable in respect of such goods.
2[(3) Where the fine imposed under sub-section (1) is not paid within a period of one hundred and twenty days from the date of option given thereunder, such option shall become void, unless an appeal against such order is pending.
Explanation. ''For removal of doubts, it is hereby declared that in cases where an order under sub-section (1) has been passed before the date on which the Finance Bill, 2018 receives the assent of the President and no appeal is pending against such order as on that date, the option under said sub-section may be exercised within a period of one hundred and twenty days from the date on which such assent is received.]
1. Substituted Vide Section 95 of the Finance Act 2018
2. Inserted Vide Section 95 of the Finance Act 2018
3. Substituted Vide Section 78 of the Finance Act 2019
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