Central Board of Indirect Taxes and Customs (CBIC) Notification No. 50/2018-Customs (N.T.) dated 8th June, 2018, reads as follows:—
“In exercise of the powers conferred by section 122 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby confers power, for the purposes of adjudging confiscation or penalty, on the Customs Officer as mentioned in column (2) of the Table below, in terms of value limit as specified in column (3) of the said Table, in relation to goods which are liable to confiscation under Chapter XIV of the said Act:
2. This notification shall come into force on the date of its publication.”
Central Board of Indirect Taxes and Customs (CBIC) Circular No. 16/2018-Customs dated 8th June, 2018, reads as follows:—
“Please refer to notification no.50/2018- Customs (N.T.) dated 08.06.2018 specifying monetary limits of adjudication by officers up to the level of Assistant Commissioners/ Deputy Commissioners in cases liable to confiscation under Chapter XIV of the Customs Act, 1962.
2. In order to improve the disposal rate in deciding cases falling under Chapter XIV, it has been decided that for cases where value of the goods liable for confiscation is above 10 lakhs, the adjudication powers shall be exercised as under:
3. Difficulty faced, if any, may be brought to the notice of the Board.”