CBEC likely to serve Rs 650-crore notice to BMW
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CBEC likely to serve Rs 650-crore notice to BMW

Last Updated: Wednesday, May 08, 2013, 22:00
 
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CBEC likely to serve Rs 650-crore notice to BMW
New Delhi: The CBEC is likely to serve a Rs 650-crore show-cause notice to luxury car maker BMW alleging that it imported semi-knocked down cars but paid duty for completely-knocked down car units.

"The Central Board of Excise and Customs (CEBC) Chennai office will serve Rs 650 crore show-cause notice to BMW," a Finance Ministry official said.

"The department believes that BMW imported semi-knocked down (SKD) cars but paid duty for completely-knocked down (CKD) cars. The company will be served notice shortly," the official added.

The customs duties on SKD and CKD are 30 percent 10 percent, respectively.

When contacted for comment, BMW India spokesperson said, "An inspection is in process by the authorities at BMW Plant in Chennai. We are co-operating with the authorities in the inspection process."

PTI

First Published: Wednesday, May 08, 2013, 22:00


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