V-Guard Industries Faces Order from Commissioner of Customs with INR 3.75 Crore Fine

V-Guard Industries Ltd. has received an Order from the Commissioner of Customs (NS-V), JNCH, alleging misclassification of certain parts of products. The authority has re-classified the goods and confirmed a differential duty demand of INR 1,62,59,112 including interest. Penalties under Sections 114A and 114AA amounting to INR 2.12 crores have also been imposed. The Order relates to imports spanning from September 9, 2019 to June 11, 2024. The company is evaluating the merits of the order and will undertake appropriate steps including filing an appeal before CESTAT within prescribed time limits.