Kathmandu, Dec. 9 -- The government has imposed a cash penalty up to 200 percent for revenue leakage if traders are found cheating deliberately by modifying specifications or producing fake documents of goods for imports and exports.

The government on Saturday implemented the Customs Act 2025, which was certified by the president three months ago, in an attempt to minimize revenue leakage via cross-border smuggling of goods.

"The traders proven guilty of submitting counterfeit documents with the motive of benefitting from revenue leakage will be subjected to a cash penalty of 200 percent of the cheated amount or a jail term of 6-12 months or both," reads the new provision in the act.

A similar rate of cash penalty will also be imposed...