Rashi Peripherals faces ₹8.02 Cr customs duty demand with interest and penalty
Rashi Peripherals received a customs duty demand order for ₹8.02 crore, including penalties and interest. ₹1.82 crore was paid earlier. The company plans to appeal the order, classifying the demand as a contingent liability.
The confirmed demand of ₹8.02 crore, while significant, is classified as a contingent liability. The company is exploring legal options, which may mitigate the immediate financial impact. However, it still represents a material financial obligation if the appeal is unsuccessful.
The company has been ordered to pay a significant amount of customs duty, interest, and penalty, which is a negative development.
Rashi Peripherals Limited has received an order from the Principal Commissioner of Customs (Import), Air Cargo Complex, Mumbai, confirming a demand of customs duty, interest, and penalty. This order pertains to proceedings initiated via Show Cause Notice (SCN) No. 477/2025-26 dated December 2, 2025.
The confirmed demand amounts to ₹8,02,01,938 (Rupees Eight Crores Two Lakhs One Thousand Nine Hundred Thirty-Eight only), along with applicable interest. The breakdown includes ₹3,76,00,969 for differential duty, ₹3,76,00,969 as penalty under Section 114A, and ₹50,00,000 under Section 114AA.
An amount of ₹1,82,36,604 was previously paid under protest on August 22, 2025. The net payable amount, excluding interest, stands at ₹6,19,65,334. The alleged contravention involved incorrect classification of imported goods, making the company liable for additional customs duty.
The company has classified this confirmed demand as a contingent liability in its financial statements. Rashi Peripherals is currently in discussions with its legal advisors regarding the filing of an appeal before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) against this order.
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Rashi Peripherals Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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