The Hindu Business Line : Pokarna plans to contest excise demand

POKARNA Ltd is planning to appeal against the demand raised by the Commissioner of Customs and Central Excise before the higher authorities, including the Customs Excise and Gold Control (Appellate) Tribunal (CEGAT).

The company informed the stock exchanges on Tuesday that it has received a notice from the office of the Commissioner of Customs and Central Excise, Hyderabad, demanding payment of Rs 71,69,678 together with the applicable interest thereon alleging that the `Epoxy Resin' used by the company in the manufacture of polished granite slab is a `raw material' and not a `consumable', as claimed by the company.

Upon the legal counsel's advice, the company said it is now considering the option of appealing against the said order.

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