Maruti Suzuki India Faces Customs Duty Evasion Allegations

  • Stock Market News
Maruti Suzuki India Faces Customs Duty Evasion Allegations
Credit: © Reuters.

Major automobile manufacturer Maruti Suzuki (NS: MRTI ) India has been accused by the customs department of evading Rs 16,27,085 in customs duties. The allegations, raised on Monday, suggest that the company improperly leveraged the Basic Customs Duty (BCD) concession tied to the end use of imported goods.

The goods in question were sourced from foreign suppliers and claimed under various codes in Notification No. 50/2017-Customs. The customs department alleges that Maruti Suzuki used these codes improperly to evade the customs duties.

Despite these allegations, Maruti Suzuki is preparing its response for presentation to the adjudicating authority. The company has assured stakeholders that neither its operations nor financial stability will be impacted by this situation. They are currently working on a comprehensive response to address these allegations and maintain their commitment to compliance with all relevant customs regulations.

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