Elgi Compressors USA INC, a wholly owned subsidiary of Elgi Equipments Limited, has received a US$ 1.55 million tariff refund from U.S. Customs and Border Protection (CBP). This refund, equivalent to approximately ₹14.82 crores, follows directives from the US Supreme Court to return excess tariffs collected from importers, positively impacting the company’s cash flow.
Elgi Compressors USA Receives Significant Tariff Refund
Elgi Equipments Limited has announced that its wholly owned subsidiary, Elgi Compressors USA INC, has been granted a substantial tariff refund. The refund, amounting to US$ 1.55 million, comes from U.S. Customs and Border Protection (CBP).
This financial recovery is a direct consequence of directives issued by the US Supreme Court, mandating the US Government to refund excess tariffs that were previously collected from importers. The equivalent value of this refund in Indian Rupees is approximately ₹14.82 crores.
The company confirms that this update has been hosted on its official website and requests that this intimation be taken on record.
Source: BSE
