VINNY OVERSEAS LIMITED : RECEIPT OF CUSTOM NOTICE

• The company received a notice from the office of the principal commissioner of customs, Custom House, Mundra port, Kutch, Gujarat. • The notice is related to alleged willful mis-declaration and mis-classification of imported Transfer/Sublimation Paper. • Allegation is to gain benefit of less IGST payment @12% instead of 18% and to avail 30% BCD exemption. • The impugned imported goods have an assessable value of ₹13,13,87,104/-, held liable for confiscation. • Tax/Duty involved is ₹1,13,59,561/-, plus interest and penalty. • The company is reviewing the notice and will respond appropriately, not anticipating any material impact. Impact: Neutral (Procedural custom notice with no anticipated material impact)

Vinny Overseas Limited

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