Voltas Limited has received an Order from the Customs Authority demanding ₹10.76 crore in differential customs duty plus interest, and an additional penalty of ₹12.76 crore. The demand relates to the alleged mis-classification of imported goods handled between June 2019 and July 2022. The company is currently analyzing the Order and plans to file an appeal before the CESTAT. Voltas confirms there is no material financial impact from this action.
Customs Authority Issues Significant Demand Order
Voltas Limited announced on 30th March, 2026, that it received an Order from the Office of the Commissioner of Customs, Jawaharlal Nehru Custom House, on 27th March, 2026. The Order pertains to imports made during the period from 14th June, 2019, to 21st July, 2022.
Breakdown of Financial Demands
The Customs Authority has alleged the mis-classification of certain imported goods, resulting in the following demands:
- Differential Customs Duty demanded: ₹10,75,73,896 (₹10.76 crore), plus applicable interest.
- Penalty imposed: ₹12,75,73,896 (₹12.76 crore) under the relevant provisions of the Customs Act, 1962.
The total financial liability demanded, including the penalty, exceeds ₹23.50 crore.
Company Response and Impact Assessment
The Company is currently analyzing the Order, which was received over the weekend, and intends to pursue the appropriate course of action, including filing an appeal before the CESTAT. Importantly, the management has stated that the imposition of this penalty has no material impact on the company’s financials, operations, or any other key activities.
Source: BSE
