India Glycols Partially Wins Customs Appeal, Duty Demand Reduced
India Glycols received a partial win in its customs appeal. The Appellate Authority upheld a Rs. 33.43 crore duty demand with interest and a Rs. 41 crore penalty, but set aside the Rs. 191.76 crore redemption fine. The company plans a second appeal, expecting no material impact.
The company has indicated that it does not anticipate any material impact on its financial or operational activities, even with the confirmed duty and penalty, as they plan to contest it further.
While the company achieved a partial success by having the redemption fine set aside and a reduction in penalty, the core demand for duty and interest remains, and a second appeal is planned. The outcome is not definitively positive or negative.
India Glycols Limited has received an order dated 27th February 2026 (received on 12th March 2026) from the Commissioner (Appeals), Noida, Uttar Pradesh. This order is in relation to an appeal filed by the company against an earlier order dated 22nd March 2024 passed by the Additional Commissioner, Noida Customs Commissionerate.
The initial order had confirmed a demand of Rs. 33.43 crore as short-paid duty along with applicable interest, imposed a penalty of Rs. 82 crore, and a redemption fine of Rs. 191.76 crore under the Customs Act, 1962.
The Appellate Authority, in its recent order, has partially allowed the company's appeal. It has upheld the demand of Rs. 33.43 crore as duty short paid along with applicable interest, and a penalty of Rs. 41 crore. However, the demand for the redemption fine of Rs. 191.76 crore has been set aside. Consequently, the total demand against the company has been substantially reduced.
The company, based on its assessment and legal advice, believes it has a strong case and intends to file a second appeal against the confirmed demand of duty, interest, and penalty. India Glycols does not reasonably anticipate any material impact on its financial, operational, or other activities.
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India Glycols Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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