 "Customs dept serves Rs 650 crore notice to BMW"){kind=logo}
Customs department will serve Rs 650 crore showcause notice to BMW stating that the luxury carmaker imported semi knocked down (SKD) cars but paid duty for completely knocked down (CKD) units.
The company will be served notice in two weeks. The notice states that BMW imported SKD duty which is 30 percent cars but paid duty for CKD which is at 10 percent.
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The company clarified as saying, “A inspection is in process by the authorities at BMW Plant In Chennai. We are co-operating with the authorities in the inspection process,” a company representative told CNBC TV18.
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