CA Pratibha Goyal | Jul 4, 2025 |
Bosch in Trouble? 96.29 Cr Customs Demand for Wrong classification
As per the SEBI disclosure made by Bosch Limited, the company has received a Tax and Penalty, Demand from Customs authorities for Rs. 96,29,45,876.
The possible demand in monetary terms (Penalty, Tax & Interest) is Differential duty: Rs 66,71,79,340/- and Penalty: Rs 29,57,66,536/-, the disclosure said.
Reason for the demand:
The order has been passed in respect of the dispute on the classification of the ECU and Oxygen Nox Sensor.
The Company has received an order on account of: (I) Wrongful availment of duty benefit under N. No. 50/2017-Cus for the import of ‘Rot Speed Sensor’, ‘Knock Sensor’ and ‘Phase Sensor’ (II) Wrong classification of ECU under CTI 9032 89 10 or CTI 9032 89 90 [to be reclassified under CTH 8708 99 00 ] (III) Wrong classification of Oxygen Nox Sensor’ under CTI 9026 80 90 or CTI 9027 10 00 or CTI 9032 89 90 [to be reclassified under CTH 9031 80 00]
The Details were disclosed by the company pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”),
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