Customs authority slaps Rs 23.52 cr demand notice on Voltas for misclassification of imported goods

New Delhi: Customs authority has slapped a demand notice of Rs 23.52 crore, including duty and penalty, on air-condition maker Voltas over alleged mis-classification of certain imported goods, a regulatory filing said on Monday.

The company is analysing the order and will take appropriate course of action including filing of an appeal before the CESTAT in the matter, said the Tata Group firm.

As per the order, there was "mis-classification of certain imported goods pertaining to the period from 14th June, 2019 to 21st July, 2022".

It is "demanding payment of differential customs duty of Rs 10.76 crore along with applicable interest, and a penalty of Rs 12.76 crore under the relevant provisions of the Customs Act, 1962,"

According to Voltas, there is no material impact on the financials, operations or other activities of the company due to this penalty.