Manali Petrochemicals Wins Customs Duty Dispute, Saving Rs. 3.83 Crore

Manali Petrochemicals Ltd. has won a customs duty dispute, with the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) setting aside a demand of Rs. 3.83 crore. The dispute was regarding the import of Quicklime, which was allegedly misclassified under CTI 2825 9090 instead of CTI 2522 1000. The Tribunal upheld the Company's classification under CTI 2522 1000, as the Calcium Oxide purity of the imported goods ranged between 91%–95%, below the 98% threshold required for classification under CTI 2825 9090. The Company is currently assessing the financial impact and will take appropriate steps as applicable. They will also keep the Stock Exchanges informed of any further material developments.