Announced Thu, 6 Aug · 21:06 IST
Mukka Proteins wins customs duty appeal, ₹15.24 crore demand set aside
MUKKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+3.2%1-day move
₹23.24
prior close
₹23.35
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.3-0.3-0.6—+3.2+2.7+4.5+12.7+14.2+16.4————
Up moveDown movePending
AI summary
CESTAT Bangalore has set aside the entire customs duty demand of ₹15.24 crore plus interest and penalties against Mukka Proteins. The case involved alleged undervaluation of imported fish meal imported during 2014-2015. The company may also be entitled to a refund of ₹75 lakh already appropriated. All four appeals were allowed in the company's favor.
Likely market impact
Positive outcome. Removes a ₹15.24 crore liability and opens the door to a ₹75 lakh refund for the company.