Customs Confirms Rs.8.02 Crore Demand Against Rashi Peripherals Limited
Customs Confirms Rs.8.02 Crore Demand Against Rashi Peripherals Limited
Rashi Peripherals Limited, in its regulatory disclosure dated 30 May 2026, has informed the stock exchanges that the Principal Commissioner of Customs (Import), Air Cargo Complex, Mumbai, has confirmed a total demand of around Rs.8.02 crore, along with applicable interest and penalties, in a classification dispute relating to imported goods.
The Order (Ref: CAO CC-MC/11/2026-27 Adj (I) ACC) dated May 29, 2026 has been passed in pursuance of Show Cause Notice (No. 477/2025–26) dated December 2, 2025 issued under Section 28(4) of the Customs Act, 1962 wherein the firm has been alleged to have misclassified the imported items resulting in underpayment of customs duty leviable.
The adjudicating authority has declared a differential duty along with penal consequences, culminating in a total confirmed liability of Rs 8,02,01,938/-. This comprises a differential duty of Rs 3,76,00,969/-, penalty of Rs.3,76,00,969/- under Section 114A, and a further penalty of Rs.50,00,000/- under Section 114AA of the Customs Act.
The company had earlier deposited Rs.1.82 crore under protest on 22 August 2025 during the investigation. After adjusting this amount, the net amount that needs to be paid, without considering any interest, is Rs.61,96,5334.
The company has stated that the confirmed demand will be accounted for as a contingent liability in its financial statements and that there will be no immediate impact on its operational activities. It has further informed that it is consulting legal advisors and is likely to challenge the order before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).
The order reflects a complete confirmation of the revenue’s classification stand at the adjudication stage, with the matter now expected to shift into appellate scrutiny before CESTAT.
To Read Full Order, Download PDF Given Below.