Section 112(i)

(i) in the case of goods in respect of which any prohibition is in force under this A ct or any other law for the time being in force, to a penalty 1[not exceeding the value of the goods or five thousand rupees], whichever is the greater; 2[(ii) in the case of dutiable goods, other than prohibited goods, subject to the provisions of section 114A, to a penalty not exceeding ten per cent. of the duty sought to be evaded or five thousand rupees, whichever is higher: Provided that where such duty as determined under sub -section ( 8) of section 28 and the interest payable thereon under section 28A A is paid within thirty days from the date of communication of the order of the proper officer determining such duty, the amount of penalty liable to be paid by such person under this section shall be twenty -five per cent. of the penalty so determined;] 3[(iii) in the case of goods in respect of which the value stated in the entry made under this Act or in the case of baggage, in the declaration made under section 77 (in either case hereafter in this section referred to as the declared value) is higher than the value thereof, to a penalty 4[not exceeding the difference between the declared value and the value thereof or five thousand rupees], whichever is the greate r;