Legal4 Sept 2026, 03:55 pm
Carraro India Receives Customs Order, Plans Appeal
AI Summary
Carraro India Limited has received an Order-in-original (OIO) from the Commissioner of Customs, confirming a differential IGST demand of ₹15.24 crore along with applicable interest and penalties. The order also imposes a penalty of ₹5 crore under Section 114AA of the Customs Act, 1962. The company, despite making technical and legal submissions, intends to challenge the OIO before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) within the prescribed timeline, believing it has a strong case for relief. There is no immediate impact on the company's financials or operations.
Key Highlights
- Received Order-in-original from Commissioner of Customs.
- ₹15.24 Cr differential IGST demand confirmed with interest and penalty.
- ₹5 Cr penalty imposed under Section 114AA of Customs Act.
- Company plans to appeal the order before CESTAT.
- No immediate financial or operational impact expected.
Price Impact
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