#Budge2015- No penalty for short payment of duty if paid within 30 days.

1. This is landmark amendment , bonafide short payment of duty  will not attract fine .
   
   By  Inserting a proviso in sub-section (2)of Section 28 of Customs Act thereof to provide that in cases not involving fraud or collusion or wilful mis-statement or suppression of facts or contravention of any provision of the Act or rules with the intent to evade payment of duty, no penalty shall be imposed if the amount of duty along with interest leviable under section 28AA or the amount of interest, as the case may be, as specified in the notice, is paid in full within 30 days from the date of receipt of the notice and the proceedings in respect of such person or other persons to whom the notice is served shall be deemed to be concluded;