On October 16, The Additional Commissioner of Customs, ICD-Import Tughlakabad, New Delhi has passed an order against Nestle India Limited under Section 28(1) of Customs Act, 1962, according to the exchange filing.
The order has demanded : (i) Customs Duty amounting to Rs. 18,74,370/-; (ii) applicable interest; and (iii) imposing penalty amounting to Rs. 1,87,000/.
The food & beverage company will be exploring options to challenge the said Order. “There is no material impact on financials, operations or other activities of the Company due to the intimation of duty demanded vide said Order,” said Nestle India in the stock filing.
