Samsung moves CESTAT, challenges $500 mn penalty

Consumer electronic major Samsung India has moved the Customs Excise & Service Tax Appellate Tribunal (CESTAT), challenging a penalty amount of more than half a billion dollars imposed on it by government officials, according to industry sources. The Indian custom authorities had imposed a penalty of over USD 500 million on Samsung earlier this year, for allegedly wrongly classifying the import of telecom equipment, including networking gears.