Tejas Networks Limited disclosed that it has received a notice from the Principal Commissioner of Customs, Bengaluru, alleging misclassification of finished goods for the period between July 2021 and March 2022. The order, dated January 13, 2025, demands a differential duty of ₹15.66 crore, along with interest and penalties totaling ₹17.77 crore, bringing the overall demand to ₹33.42 crore.
The company received the notice on January 16, 2025, and has stated that this action falls under Sections 28(4), 114A, 114AA, and 158(2)(ii) of the Customs Act, 1962. Tejas Networks has clarified that the alleged misclassification pertains to the specified period and that the matter is being reviewed internally to determine further steps.
Despite the demand notice, the company has assured stakeholders that there is no material impact on its financials, operations, or other activities. Suitable actions will be taken based on the review.
This development adds to the regulatory scrutiny faced by Tejas Networks, though the company remains confident in addressing the matter appropriately.
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