2.32.2B

Responsibility and Liability of PSIA and Importer

(a) In case of any mis-declaration in PSIC, PSIA would be liable to pay a penalty upto 10 Lakhs (if the agency is based in India) or up to US $20,000/- (if the agency is based in foreign country), in addition to suspension/cancellation of recognition.

(b) The importer would also be responsible for import of any material in contravention of the declaration as required under Para 2.32.2 of HBP Vol.I and would be liable to pay penalty upto 10 Lakhs.

(Above Para 2.32.2B has been inserted vide PN. NO. 104/2010, DT. 23/03/2012)

2.32.3

However, import of other kinds of metallic waste and scrap will be allowed in terms of conditions of ITC (HS).

2.32.4

Import policy for second and defective, rags, PET bottles / waste, and ships is given in ITC (HS).