New Delhi, March 30 Customs authorities have issued a demand notice of ₹23.52 crore, including duty and penalties, against Voltas, a manufacturer of air conditioners, over alleged mis-classification of certain imported goods, according to a regulatory filing on Monday.
The company is reviewing the order and will take appropriate action, including filing an appeal before the CESTAT, the Tata Group firm said.
According to the order, there was "mis-classification of certain imported goods pertaining to the period from June 14, 2019 to July 21, 2022."
It "demands payment of differential customs duty of ₹10.76 crore along with applicable interest, and a penalty of ₹12.76 crore under the relevant provisions of the Customs Act, 1962."
According to Voltas, there is no significant impact on the company's financials, operations, or other activities due to this penalty.