Tax & Penalty22 Apr 2026, 11:57 am
Hyundai India Faces ₹7.27 Cr Differential Duty Order
AI Summary
Hyundai Motor India Ltd. has received an order from the Commissioner of Customs, Chennai, imposing a differential duty of ₹7,27,44,961 along with interest, a penalty of ₹7,27,44,961, and a redemption fine of ₹7,47,00,000. The order alleges wrongful classification of air purifiers to claim a concessional duty, resulting in short payment of customs duty. Hyundai is reviewing the order and considering an appeal. The company states that the order has no impact on its financial or operational activities.
Key Highlights
- Hyundai India received a customs order demanding ₹7.27 Cr in differential duty.
- The order includes an equivalent penalty of ₹7.27 Cr and a redemption fine of ₹7.47 Cr.
- The demand arises from alleged wrongful classification of air purifiers for concessional duty.
- Hyundai is reviewing the order and considering filing an appeal.
- The company claims no impact on its financial or operational activities.