Apollo Tyres has announced the receipt of an order from the Joint Commissioner of Customs, Chennai, regarding a dispute over HSN classification. The authority has levied a penalty of Rs 14.34 lacs against the company. Apollo Tyres has clarified that there is no material impact on its financial, operational, or other activities and plans to file an appeal before the relevant Appellate Authority in due course.
Details of the Customs Order
On April 16, 2026, Apollo Tyres was served with an order from the Joint Commissioner of Customs, Chennai. The directive involves a penalty of Rs 14.34 lacs, stemming from a technical dispute regarding the HSN (Harmonized System of Nomenclature) classification of goods. The company has officially acknowledged receipt of this order.
Impact and Future Action
Regarding the potential impact of this development, the company has confirmed that there is no material impact on its financial performance, operations, or day-to-day activities. As part of its standard legal recourse, Apollo Tyres intends to challenge this order and will file a formal appeal before the Appellate Authority in due course to address the matter.
Source: BSE
