Hyundai Motor India Faces Customs Order Over Air Purifier Classification
Hyundai Motor India Limited has received an order from the Commissioner of Customs, Chennai - II (Imports), concerning the classification of air purifiers. The order, received on April 21, 2026, demands a significant amount in differential duty, penalty, and redemption fine due to the alleged wrongful claim of a concessional duty rate.The matter involves the company's import activities where air purifiers were reportedly classified incorrectly, allowing them to claim a concessional duty rate of 7.5%. This misclassification led to a resulting short payment of customs duty, necessitating the customs department's intervention.
According to the order details, the Commissioner of Customs has imposed several charges totaling substantial figures.
| Charge Type | Amount Demanded | Status/Notes |
|---|---|---|
| Differential Duty | Rs. 7,27,44,961/- | Due to short payment of customs duty. |
| Penalty | Rs. 7,27,44,961/- | Imposed by the Commissioner of Customs. |
| Redemption Fine | Rs. 7,47,00,000/- | Imposed by the Commissioner of Customs. |
| Interest | Not Quantified | Imposed along with the penalties. |
Following the receipt of the order, Hyundai Motor India Limited announced that it is currently reviewing the order and evaluating options to file an appeal against the findings.
Regarding the operational and financial impact, the company stated that there is no quantifiable impact on its financial, operational, or other activities resulting from this customs order.
HYUNDAI Stock Price Movement
As of 11:57 AM, shares of Hyundai Motor India Limited are slipping by 0.73% in live trading, currently registering at ₹1872. The equity has seen active participation in the session, trading today on a volume of 223,007 shares.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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