DRI Alleges Short Payment of Customs Duty by LG Electronics India; Sends Recovery SCN of Rs 153.57 Crore:

LG Electronics India Limited has received a show cause notice (SCN) No. 772/2026-27/Commr/NSV/CAC/JNCH, dated September 22, 2026, from the Office of Commissioner of Customs (NS-V), Jawaharlal Nehru Customs House, Nhava Sheva, Tal-Uran, District-Raigad, Maharashtra-400707, proposing recovery of Customs Duty amounting to Rs 153.57 crore.

The company received the aforesaid notice following an investigation by the Directorate of Revenue Intelligence (DRI), alleging non-inclusion of royalty payments in the assessable value of certain imported goods. According to the notice, the company is alleged to have not included the royalty payments in the assessable value of imported goods and consequential short-payment of customs duty.

The company informed that no penalty has been levied. At the present stage, the company is analysing/reviewing and evaluating the notice, and planning to furnish a detailed response to the concerned tax authorities before the prescribed time limit.

The company currently does not expect any impact of the present case on its financial, operational and business activities; however, if any, will be determined upon adjudication of the notice. The company has strong belief that it has appropriately paid customs duties fully adhering to the Customs Act, 1962 read with relevant Rules.

LG Electronics India Limited has made the aforementioned disclosure to the National Stock Exchange of India (NSE) and Bombay Stock Exchange Limited (BSE) vide an Intimation dated September 25, 2026, issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Refer to the official Intimation for complete information.