Customs order confirms ~Rs. 2.15 crore demand; ~Rs. 87.43 lakh partially dropped
Rashi Peripherals has received a customs order dated 3rd November, 2026 confirming a demand of ~Rs.
By ScoutQuest · · 2 min read
- Differential duty confirmed
- Rs. 1,07,51,285
- Penalty under Section 114A
- Rs. 1,07,51,285
- Total confirmed demand
- ~Rs. 2.15 crore
An order against the company
The order is dated 3rd November, 2026 and comes from the Office of the Principal Commissioner of Customs (Import), Air Cargo Complex, Andheri (East), Mumbai. It decides a Show Cause Notice (SCN No. 118/2026-27 dated 25.05.2026), which alleged that the company had made a wrong classification of goods it imported and was liable to pay additional customs duty, along with penalty and interest, under section 28(4) of the Customs Act, 1962.
What the order does to the demand
- Differential duty demand confirmed: Rs. 1,07,51,285
- Penalty under Section 114A: Rs. 1,07,51,285
- Total confirmed: ~Rs. 2.15 crore
- Demand dropped: ~Rs. 87.43 lakh
The company describes the confirmed amount in its annexure as approximately Rs. 2.15 Crores including penalty, along with applicable interest.
A window to reduce the penalty
The order states that if the duty and the interest are paid within thirty days from the date of the order, the penalty payable is reduced to twenty-five per cent of the duty. That benefit is conditional: the reduced penalty must also be paid within the same thirty-day period.
How the company plans to treat it
The company says the confirmed demand will be classified as a contingent liability in its financial statements. It also says it is in discussion with its legal advisors about update an appeal before CESTAT against the order.
What this means for a reader
- A contingent liability is a possible obligation: it is noted in the accounts rather than treated as an amount already settled, because the outcome can still change.
- The order is one step in a process that the company intends to contest before a higher appellate body.
- The split matters: part of what was originally demanded has not been confirmed, while the remaining part has been confirmed with interest, and a penalty that can be reduced by paying within the stated period.
Also from Rashi Peripherals
Board approves authorised capital increase to Rs. 50 crore, up to Rs. 900 crore fund raise, 26% stake sale
5 Nov 2026
Board approves fund raise up to Rs. 900 Crores; authorised capital to rise to Rs. 50,00,00,000
5 Nov 2026
Standalone results for the September 30, 2026
5 Nov 2026
More numbers
- Total demand confirmed by customs orderRs. 2,15,02,570
- Differential duty demand confirmed1,07,51,285
- Penalty under Section 114A1,07,51,285
- Differential duty demand droppedRs. 87,42,515/-
- Reduced penalty if paid within the stated periodtwenty-five per cent
- Payment window for reduced penaltythirty days
- Approximate confirmed demand (Annexure A)Rs. 2.15 Crores
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