Fujiyama Power Systems Receives Customs Show Cause Notice Over Differential Duty of Nearly Rs 14 Crore
Fujiyama Power Systems Limited has received a Show Cause Notice from the Office of Assistant Commissioner of Customs, Noida Customs Commissionerate, concerning allegations related to imported goods. The notice demands recovery of differential duty amounting to approximately Rs 13.97 Crores.The dispute arises from alleged mis-declaration and ineligible use of an exemption notification for goods imported in FY 2024-25 and previous periods. The Company is required to respond regarding the reclassification and subsequent financial liability.
As detailed by the Customs authority, the notice was issued on June 17, 2026.
Dispute Details Overview
The Show Cause Notice addresses allegations that the Company mis-declared imported goods under Customs tariff item 85049090 while claiming benefits from Exemption Notification No. 57/2017- Customs dated 30.06.2017. The customs authority alleges that the goods should have been correctly reassessed and taxed under Customs Tariff Item: 85044090.The key demands and points of contention outlined in the notice are summarized below:
| Aspect | Details |
|---|---|
| Opposing Agency | Office of Assistant Commissioner of Customs, Noida Customs Commissionerate (Under Section 28(4) of Customs Act, 1962). |
| Alleged Misclassification | Goods declared under CTI 85049090. |
| Required Reassessment | Under Customs Tariff Item: 85044090. |
| Differential Duty Claimed | Rs 13,96,77,362/- (Approx. Rs 13.97 Crores). |
| Company Stance | The Company does not concur with the findings and intends to avail appellate remedies. |
Financial Implications and Response
In response to the customs requirement, Fujiyama Power Systems Limited has stated that it has already made an appropriate provision in its financial statements regarding the matter, adhering to applicable Indian accounting standards.The company indicated that, subject to the outcome of future appellate proceedings, no additional material impact on its financial position or operations is currently envisaged due to the alleged order. The Company intends to file an appeal before the competent appellate authority within the prescribed timelines.
UTLSOLAR Stock Price Movement
Shares of Fujiyama Power Systems Limited today slipped by 1.81% to settle at ₹313.85 in the post-market session. The company saw a total traded volume of 169,852 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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