JSW Steel has received an order from the Mumbai Customs department demanding ₹20,30,38,073 (₹20.3 crore) for an alleged violation of import conditions. The demand includes customs duty, interest, penalty, and a redemption fine. The notice pertains to alleged non-compliance with import conditions under the Advance Authorization Scheme.
Key Details:
- Total Demand: ₹20.3 crore
- Includes: Interest, penalty, and redemption fine
JSW Steel has announced plans to appeal the order, citing Supreme Court and High Court rulings in similar cases. The company remains confident that it will not have a material financial impact, and it believes the case will likely be resolved in its favor based on precedents set by higher courts.
JSW Steel continues to take the necessary legal steps and aims to handle the situation efficiently, ensuring minimal disruption to its operations.
