Larsen & Toubro (L&T) has secured a favorable order from the Central Excise & Service Tax Appellate Tribunal, Ahmedabad, regarding a customs demand of ₹702 crore. The demand was previously raised by the Principal Commissioner of Customs, Ahmedabad, over the denial of customs duty exemption.
In its ruling on December 5, 2024, the tribunal set aside the entire demand, allowing the appeal filed by L&T. This development is expected to positively impact L&T shareholders, reflecting the company’s robust legal framework and strong compliance mechanisms. It also reinforces investor confidence in the company’s ability to navigate regulatory challenges effectively.
“…The Company had filed Appeal with the Central Excise & Service Tax Appellate Tribunal, Ahmedabad (‘Tribunal) against the order ‘passed by the Principal Commissioner of Customs, Ahmedabad towards Customs demand of Rs. 702 crore, in respect of denial of Customs duty exemption. We wish to inform that the Company on December 5, 2024, has received a favourable order of the Tribunal allowing the appeal filed by the Company and setting aside the entire demand,” the company said in exchange filing.
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