Carraro India Limited has informed the Exchange about receipt favourable order dated 07th May, 2026 from Office of the Commissioner of Customs, Pune, 41-A, ICE House, opp. Wadia college, Sassoon road, Pune 01 (Customs Order).
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Carraro India Limited has received a favourable order from the Office of the Commissioner of Customs, Pune dated May 7, 2026 (received May 8, 2026). This order resolves a customs dispute that began with a Show Cause Notice dated September 2, 2025. The authorities had raised a tax demand of Rs. 6,37,26,310 (approximately Rs. 6.37 crore) alleging short levy of IGST at 10%. Following submissions and representations made by the company before the tax authorities, the entire tax demand has been dropped and complete relief has been granted. The company states this will reduce its contingent liability by Rs. 6,37,26,310.
This is a positive development for the company as it eliminates a potential tax liability of over Rs. 6.3 crore, strengthening the balance sheet by reducing contingent liabilities. Shareholders should view this favourably as it removes regulatory uncertainty around a customs dispute.