No Prosecution against Foreigners/NRIs on Detection of Non-declaration of Legally Acquired Foreign Currency: CBIC issues Guidelines for Prosecution of Customs Offences

Foreigners - NRIs - Foreign Currency - CBIC - Customs Offences - taxscan

The Central Board of Indirect Taxes and Customs (CBIC) has issued guidelines for the launching of Prosecution in relation to offenses punishable under the Customs Act, 1962 wherein the Board clarified that prosecution need not be launched against the foreigners/NRIs on the detection of non-declaration of legally acquired foreign currency exceeding the threshold limits of…

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