The Central Excise department has slapped a notice on infrastructure major Larsen and Toubro (L&T) for alleged non-payment of excise duty of Rs 160 crore, a demand that the company said it is contesting.
“We have issued a notice to L&T,” confirmed a source.
“The matter is under dispute and we are contesting the demand. All companies receive similar notice from time-to-time and we are suitably responding to the department,” L&T spokesperson said.
Sources said that allegedly parts of heavy earth moving vehicles were imported by L&T through M/s Komatsu India Pvt Ltd and the duty has been charged in lieu of it.
L&T allegedly cleared the goods without payment of duty and registration under central excise, they said, adding that it cleared a substantial quantity of these parts and removed them from the factory without payment of duty.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.