Bharat Aluminium Company Limited (BALCO), a Vedanta subsidiary, has received an order from the Office of the Principal Commissioner of Customs, Kolkata. The order confirms a penalty of INR 2,00,000 and a fine of INR 15,00,000 related to the levy of incorrect IGST on certain import bills. Vedanta doesn’t expect any material financial impact from this order.
Details of the Customs Order
BALCO has received an order from the Office of the Principal Commissioner of Customs, Kolkata, confirming a penalty and fine related to the import of goods. The issue pertains to the levy of what authorities deemed to be an incorrect rate of IGST in one of the Bills of Entry.
Financial Implications
The confirmed order includes a penalty of INR 2,00,000 and a fine of INR 15,00,000, in addition to the applicable tax demand and interest. The order, reference number KOL/CUS/A&A/ADC/IMPORT/GR/01/2026, is dated January 1, 2026, and was received by BALCO on January 5, 2026, at 4:00 P.M.
Company Assessment
Vedanta Limited has assessed the order and has stated that neither the Company nor BALCO expects the said order to have any material financial impact on its operations or financial standing.
Source: BSE
