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CS Executive · Economic, Commercial and Intellectual Property Laws · Foreign Trade Policy and Procedure

Meera Overseas, a services exporter in Pune, signs and submits to the Director General a declaration she knows to be false in a material particular. What does section 11 provide as the penalty?

A person who knowingly submits a forged, tampered or materially false declaration to the Director General is liable to a penalty of not less than ten thousand rupees or more than five times the value concerned, whichever is more, under section 11(3).

  1. AA penalty of not less than ten thousand rupees or more than five times the value in respect of which the declaration was submitted, whichever is moreCorrect
  2. BA fixed penalty of ten thousand rupees only
  3. COnly suspension of the Importer-exporter Code Number, with no monetary penalty
  4. DA penalty equal to the redemption charges on the goods

Explanation

Section 11(3) imposes a penalty of not less than ten thousand rupees or more than five times the value of the goods, services or technology for which the declaration was submitted, whichever is more. It is not a fixed amount, and redemption charges relate to confiscated goods under section 11(9).

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