Tax & Penalty29 Oct 2026, 11:22 am
Kovai Medical Center fined ₹1.89 Cr by Customs
AI Summary
Kovai Medical Center & Hospital Ltd has received an adjudication order from the Joint Commissioner of Customs, Chennai, for non-fulfillment of post-importation conditions under the Customs Act, 1962. The company has been levied a customs duty of ₹1,89,45,984, along with applicable interest. Additionally, a redemption fine of ₹3,00,000 and a penalty of ₹18,94,598 under Section 112(a) of the Customs Act, 1962, have been imposed. The total financial impact is ₹1,89,45,984 plus interest, redemption fine, and penalty.
Key Highlights
- Customs duty of ₹1.89 Cr imposed for non-fulfillment of post-importation conditions.
- Redemption fine of ₹3 Lakhs and penalty of ₹18.94 Lakhs also levied.
- The order pertains to medical equipment imported between 1990-1993.
- Company has the option to appeal the order within 60 days.
Price Impact
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