Rashi Peripherals Faces Rs 2.15 Crore Customs Duty and Penalty Demand Over Alleged Misclassification of Imported Goods, Considers CESTAT Appeal:

Rashi Peripherals Limited has received an order from the Office of the Principal Commissioner of Customs (Import), Mumbai, confirming a customs duty demand of Rs 2.15 crore, including penalty, along with applicable interest. The order, dated November 3, 2026, relates to a show-cause notice issued to the company on May 25, 2026, over the alleged incorrect classification of imported goods.

The customs authority has partially dropped the demand of Rs 87,42,515 but upheld the remaining demand of Rs 2,15,02,570. This includes Rs 1.07 crore in differential customs duty and another Rs 1,07,51,285 as penalty under Section 114A of the Customs Act, 1962.

The order also provides relief in the form of a reduced penalty. If the company pays the applicable customs duty and interest within 30 days of the order, the penalty will be reduced to 25% of the duty amount, provided the reduced penalty is also paid within the same period.

Rashi Peripherals said the confirmed demand, including the penalty, will be treated as a contingent liability in its financial statements. The company is currently consulting its legal advisors and is considering filing an appeal against the order before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).