Show cause notice from customs authority for Rs 6.72 crore differential duty
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Zelio E-Mobility received a show cause notice from the Principal Commissioner of Customs, Delhi, regarding classification of certain goods imported in FY2022-23 and FY2023-24. The notice proposes a differential customs duty demand of about Rs 6.72 crore, excluding interest and penalty. The matter is at a preliminary stage with no final order. The company will respond within 30 days, citing its bona fide understanding of customs classification. Management expects no immediate operational impact.
Potential customs duty liability of Rs 6.72 crore plus interest and penalty if decided against the company; matter is preliminary with no operational disruption expected yet.