Legal25 Sept 2026, 12:34 pm
LG Electronics India Receives Customs Show Cause Notice for ₹153.5 Cr
AI Summary
LG Electronics India Ltd has received a Show Cause Notice (SCN) from the Office of Commissioner of Customs (NS-V) alleging non-inclusion of royalty payments in the assessable value of certain imported goods. The SCN proposes recovery of Customs duty amounting to Rs. 153,57,67,711/-. The company is currently reviewing the matter and plans to submit a response within the prescribed timeline, asserting that it has fully complied with customs regulations. The financial implications will be determined upon adjudication of the notice.
Key Highlights
- LG Electronics India received a Show Cause Notice from Customs.
- Notice alleges non-inclusion of royalty payments in import value.
- Proposed customs duty recovery is Rs. 153.57 crore.
- Company believes it has complied with customs laws.
- Financial impact to be determined after adjudication.
Price Impact
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