TTK Healthcare Pays Penalty After Customs Reclassification of Imported Mechano-therapy Appliances
TTK Healthcare Limited paid a sum of Rs. 9,93,320/- to the Customs Department on June 01, 2026, to settle a penalty related to the product classification of its imported medical goods. The payment followed a discrepancy concerning the basic customs duty applicable to mechano-therapy appliances.The matter arose when TTK Healthcare initially imported various products classified under 90191010 [Mechano-therapy Appliances], which carried a basic customs duty of 7.5%. Subsequently, the Customs Department indicated that the appropriate classification should be 90191020 [Massage Apparatus], which carries a basic customs duty of 10%.
Following this change in classification, the company paid the arrears of the differential duty of 2.5% along with applicable interest to the Customs Department.
However, the Customs Department insisted on the payment of a penalty equivalent to 15% of the differential duty paid by the company. To close the matter, TTK Healthcare decided to pay this penalty voluntarily.
On June 01, 2026, the company paid a total of Rs. 9,93,320/- towards the penalty on the differential duty to the Customs Department.
TTKHLTCARE Stock Price Movement
Today, TTK Healthcare Limited shares rallied, closing up 3.16% to settle at ₹916.10. The stock traded within a ₹912 to ₹950.6 range today, marking gains on total volume of 8,635 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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