Manorama Industries Pays ₹20.64 Cr Duty After Customs Inquiry

Manorama Industries Limited has paid ₹20.64 crore in differential customs duty, IGST, interest, and penalty following an inquiry by the Customs, Indore. The inquiry concerns the eligibility of imported Palm Mid Fraction from a UAE supplier for preferential tariff benefits under the India-UAE CEPA. The company, which imports the specialty fat for cocoa butter equivalents, relied on Certificates of Origin provided by the supplier. Manorama Industries has issued a debit note and legal notice to the supplier seeking recovery of the paid amount, asserting that the supplier's representations did not correctly reflect the goods' eligibility for preferential treatment. The company does not anticipate any material adverse impact on its financial position or operations beyond the amount paid and incidental costs.