V-Guard Faces ₹68.24 Lakhs Duty & Penalty

V-Guard Industries Ltd received an order from the Commissioner of Customs (NS-V), JNCH, regarding misclassification of certain product parts. The order re-classifies the goods, confirming a differential duty demand of ₹68,24,372 with applicable interest under Section 28AA. Additionally, a penalty of ₹68,24,372 has been imposed under Section 114A, with a conditional option to reduce it to 25%. The imports covered in the order relate to Bills of Entry spanning from May 2020 to July 2024. V-Guard is evaluating the order and plans to file an appeal before CESTAT within the prescribed time limits.