Key Quantitative Figures
The company has received a demand order for an aggregate amount of ₹1.64 Crore. This amount comprises:
- Duty demand of ₹0.82 Crore under Section 28(4) of the Customs Act, 1962
- Penalty of ₹0.82 Crore under Section 114A of the Customs Act, 1962
Authority Involved
The order was issued by the Principal Commissioner of Customs (Preventive), Kolkata, West Bengal.
Details of Alleged Violation
The demand relates to a preferential tariff exemption claimed by the company on import of goods for one shipment during the year 2020.
Company's Response and Financial Impact Assessment
Based on the company's assessment, the demand is not maintainable. The company is evaluating all options including filing an appeal against the order.
The company explicitly states that it does not envisage any relevant impact on its financials, operations or other activities.