Hindalco to File Appeal Against Rs 30 Crore Penalty Imposed under Customs Act

The Office of the Principal Commissioner of Customs in Ahmedabad has imposed a fine of Rs 30 crore on Hindalco Industries for violating a pre-import condition related to import against Advance Authorization. Despite the penalty, Hindalco believes it will not have a significant impact on its financials and plans to appeal the decision.

In addition to Hindalco, other companies like Bajaj Electricals and Honeywell Automation India have also faced recent GST notices. Bajaj Electricals received a tax demand of Rs 1.32 crore for FY 2018-19, while Honeywell Automation India was ordered to pay Rs 8,78,369 for the FY 2017-18, along with interest and penalty.

Bajaj Electricals is exploring legal options and plans to challenge the GST Authority’s order, while Honeywell Automation India stated that the order will not have any material impact on its financials or operations. Both companies intend to file appeals against the decisions.

The flurry of GST notices issued to these companies highlights the importance of compliance with tax regulations and the need for businesses to be proactive in addressing any issues that may arise. Despite the challenges, the companies remain optimistic about resolving the issues through legal means and continuing their operations without disruption.