Legal19 Aug 2026, 11:26 am
Vinny Overseas Receives Customs Show Cause Notice
AI Summary
Vinny Overseas Ltd has received a show cause notice from the Principal Commissioner of Customs at Mundra port. The notice pertains to alleged wilful mis-declaration and mis-classification of imported Transfer/Sublimation Paper, leading to potential short payment of customs duty and IGST. The period involved is July 6, 2023, to November 4, 2024, with an assessable value of ₹13,13,87,104/- and tax/duty involved of ₹1,13,59,561/-. The company is reviewing the notice and plans to respond within the prescribed timelines, stating it does not anticipate any material impact on its financial or operational activities.
Key Highlights
- Received show cause notice from Customs Department.
- Allegations include mis-declaration and mis-classification of imported goods.
- Involves potential short payment of customs duty and IGST.
- Company expects no material financial or operational impact.
- Will respond within stipulated timelines.
Price Impact
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