Mumbai, February 14, 2025
Kokuyo Camlin Limited (BSE: 523207 | NSE: KOKUYOCMLN) has disclosed an order received from the Office of the Commissioner of Customs (NS-V), JNCH, Nhava Sheva, Maharashtra, regarding a demand for Goods and Services Tax (GST), along with interest and penalties.Key Details of the Customs Order
| Particulars | Details |
|---|---|
| Authority | Commissioner of Customs (NS-V), JNCH, Nhava Sheva, Maharashtra |
| Nature of Order | Issued under Sections 28(4) & 28AA, with redemption fine under Section 125(1) and penalties under Sections 114A & 114AA of the Customs Act, 1962 |
| Date of Receipt | February 13, 2025 |
| Violation Alleged | Short payment of Integrated GST (IGST) from February 8, 2018, to March 5, 2021 |
| Financial Impact | ₹57,45,240 demand for IGST, ₹66,00,000 redemption fine, and ₹57,45,240 + ₹6,00,000 in penalties and interest |
Company's Stand
Despite the tax demand, Kokuyo Camlin stated that this order has no material impact on the company’s financials or operations. The company plans to appeal against the order.This regulatory disclosure aligns with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Investors are advised to take note of this update, while the company's future course of action will depend on the outcome of the appeal.