Customs duty order demands about Rs. 1.88 crore; company to appeal

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AI summary

LG Electronics India received a customs order from the Commissioner of Customs (NS-V), JNCH Raigad, dated Jan 15, 2026, over denial of customs duty exemption benefit and classification of a medical monitor. Total demand: about Rs. 1.88 crore (Rs. 79.49 lakh net differential duty after voluntary payment, Rs. 30 lakh redemption fine, plus a penalty of Rs. 79.49 lakh) with applicable interest. The company will file an appeal and states the matter is not expected to impact operations or other activities.

Likely market impact

Financial exposure of about Rs. 1.88 crore plus interest; company plans to appeal and says no material impact on operations or finances.