Subros Limited Faces Rs. 35.08 Crore Customs Demand, Plans Appeal 2 days ago
Subros Limited, an automotive components manufacturer, has received a customs demand of approximately Rs. 35.08 crores from the Principal Commissioner of Customs, Greater Noida. The demand includes a redemption fine, differential duty, and penalties. The customs department alleges incorrect benefit availment of Rs. 4.83 crores and misclassification of two components worth Rs. 11.71 crores. Subros plans to appeal the order with the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), expressing confidence in a favorable outcome. The company states that this demand will not materially impact its financial position or operations.
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