Tax & Penalty30 May 2026, 03:44 pm
Rashi Peripherals Faces ₹8.02 Cr Customs Duty Demand
AI Summary
Rashi Peripherals Ltd. has received an order from the Principal Commissioner of Customs, confirming a demand of ₹8,02,01,938 towards customs duty, interest, and penalty. The demand arises from a Show Cause Notice (SCN No. 477/2025-26) related to an alleged wrong classification of imported goods. The company had previously paid ₹1,82,36,604 under protest. Rashi Peripherals is currently discussing with legal advisors the possibility of filing an appeal before CESTAT. The remaining payable amount of ₹6,19,65,334, excluding applicable interest, will be classified as a contingent liability in the company's financial statements.
Key Highlights
- Customs authority confirms demand of ₹8.02 Cr against Rashi Peripherals.
- Demand includes differential duty, penalties u/s 114A & 114AA, and interest.
- Company paid ₹1.82 Cr under protest; net payable is ₹6.20 Cr excluding interest.
- The demand relates to alleged wrong classification of imported goods.
- Rashi Peripherals is considering filing an appeal against the order.
Price Impact
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