Maruti Suzuki receives ₹3.8 crore show cause notice from Mumbai customs office; check details

In a stock exchange notification on Wednesday, August 14, Maruti Suzuki said that the company has received a show-cause notice from the Office of the Commissioner of Customs (Import), Air Cargo Complex, Mumbai.

In this show-cause notice dated August 13, the Customs office has asked the company to provide the reasons for claiming custom duty exemption on the import of certain categories of goods.

Maruti Suzuki added that the authority has also asked the company to pay the differential duty of ₹3.81 crore along with applicable interest and penalty.

Without sharing any further details, the company said that this notice had no major impact on its financial, operational, or other activities.

In a separate filing, the automaker informed the stock exchanges that it has received an order from the Office of the Principal Commissioner of Customs, Air Cargo Complex, Import, to pay a penalty of ₹7,964. The penalty was imposed over the differential duty of an equal amount paid to the Customs office on January 31, 2024.

Shares of Maruti Suzuki were largely trading flat on Wednesday after the announcement. The stock closed at ₹12,211 apiece, up 0.29%, on the NSE. The share price has gained over 30% in the past one year, but is down nearly 4% in the past one month.

Maruti Suzuki was in the news earlier this week after the company commenced the export of its SUV Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat’s Pipavav port this week. The Fronx is a crossover based on Maruti Suzuki’s Baleno. The prices of the base model start from ₹7.5 lakh in India.