Any person,--
(a) who, in relation to any goods, does or omits to do any act which act or omission would render such goods liable to confiscation under section 111, or abets the doing or omission of such an act, or
(b) who acquires possession of or is in any way concerned in carrying, removing, depositing, harbouring, keeping, concealing, selling or purchasing, or in any other manner dealing with any goods which he knows or has reason to believe are liable to confiscation under section 111,
shall be liable,--
(i) in the case of goods in respect of which any prohibition is in force under this Act or any other law for the time being in force, to a penalty 1[not exceeding the value of the goods or five thousand rupees], whichever is the greater;
2[(ii) in the case of dutiable goods, other than prohibited goods, subject to the provisions of section 114A, to a penalty not exceeding ten per cent. of the duty sought to be evaded or five thousand rupees, whichever is higher:
Provided that where such duty as determined under sub-section (8) of section 28 and the interest payable thereon under section 28AA is paid within thirty days from the date of communication of the order of the proper officer determining such duty, the amount of penalty liable to be paid by such person under this section shall be twenty-five per cent. of the penalty so determined;]
3[(iii) in the case of goods in respect of which the value stated in the entry made under this Act or in the case of baggage, in the declaration made under section 77 (in either case hereafter in this section referred to as the declared value) is higher than the value thereof, to a penalty 4[not exceeding the difference between the declared value and the value thereof or five thousand rupees], whichever is the greater;
(iv) in the case of goods falling both under clauses (i) and (iii), to a penalty 5[not exceeding the value of the goods or the difference between the declared value and the value thereof or five thousand rupees], whichever is the highest;
(v) in the case of goods falling both under clauses (ii) and (iii), to a penalty 6[not exceeding the duty sought to be evaded on such goods or the difference between the declared value and the value thereof or five thousand rupees], whichever is the highest.]
1Subs. by Act 14 of 2001, s. 107, for "not exceeding five times the value of the goods or one thousand rupees" (w.e.f. 11-5-2001).
2Subs. by Act 20 of 2015, s. 83, for sub-clause (ii) (w.e.f. 14-5-2015).
3Ins. by Act 36 of 1973, s. 3 (w.e.f. 1-9-1973).
4Subs. by Act 14 of 2001, s. 107, for "not exceeding five times the difference between the declared value and the value thereof or one thousand rupees" (w.e.f. 11-5-2001).
5Subs. by s. 107, ibid., for "not exceeding five times the value of the goods or five times the difference between the declared value and the value thereof or one thousand rupees" (w.e.f. 11-5-2001).
6Subs. by s. 107, ibid., for "not exceeding five times the duty sought to be evaded on such goods or five times the difference between the declared value and the value thereof or one thousand rupees" (w.e.f. 11-5-2001).