LG India receives show-cause notice to pay ₹153.57-crore as customs duty
NEW DELHI: LG Electronics India has received a show-cause notice from customs authorities for the recovery of ₹153.57 crore as customs duty following the exclusion of royalty payments from the assessable value of certain imported goods, according to a regulatory disclosure on Friday.
“The company has received a show cause notice pursuant to an investigation by the Directorate of Revenue Intelligence (DRI), alleging non-inclusion of royalty payments in the assessable value of certain imported goods. The show cause Notice proposes recovery of customs duty amounting to ₹153,57,67,711,” LG India said in the regulatory filing.
