Voltas receives 23.52cr customs notice over alleged import misclassification
Business
Voltas, the well-known AC brand from the Tata Group, just got a ₹23.52 crore customs notice for allegedly misclassifying imported goods between 2019 and 2022.
The demand covers extra customs duty and penalties under the Customs Act.
Right now, Voltas is reviewing the order and figuring out its next legal steps.
Voltas to appeal CESTAT, operations unaffected
Voltas has reassured everyone that this notice will not mess with its finances or daily operations.
Out of the total amount, ₹10.76 crore is for unpaid duty and ₹12.76 crore is a penalty.
The company plans to challenge the notice by appealing to CESTAT, the Customs, Excise and Service Tax Appellate Tribunal, aiming to keep things running smoothly while contesting the charges.