Guideline for imposing Fine
Directions given in the Appraising Manual (the
Circular issued by the Ministry of Finance, Department of Revenue vide F. No. 5/35/64-Cus. VI, dated 16-3-1965
), which clearly states as follows :
"The Government of India accordingly desire that while imposing fines in lieu of confiscation, the provisions of Section 125 ibid, should be borne in mind and the market value of each individual item of the offending goods should be ascertained before deciding a case and the ascertained market value should be kept on record, for the assistance of the adjudicating officer and also for reference and scrutiny at the Appeal/Revision Petition stage. No detailed enquiries of course may be necessary where the fine to be imposed is 100% of the value of less as market value is normally bound to be more than the CIF value of the goods plus duty."