(1) Goods controlled or prohibited in accordance with this Act or the notified order under this Act or the goods specified in the export or import license issued in accordance with the rules made under this Act or the value or quantity of the goods without reasonable cause. If someone exports or imports any item from abroad, the exported or imported item shall be confiscated and he shall be fined equal to the value of the item or imprisoned for up to one year or both.
(2) A person who assists in the act punishable under sub-section (1) shall be punished with half of the punishment mentioned in the same sub-section.
(3) Except as provided in sub-sections (1) and (2), if any person knowingly submits false or forged evidence or details or makes unauthorized additions or tampering with the issued license or obstructs the work of the license issuing office, the license shall be revoked. The issuing authority may impose a fine of up to two thousand rupees.
(4) Apart from what is written in sub-section (1), (2) and (3), the authority authorized to issue a license may impose a fine of up to one thousand rupees on anyone who violates this Act or the rules made under this Act.

(5) The authority authorized to issue a license may not issue an export-import license to a person punished under this section for a period of one to three years or may cancel the issued license.