Kia India gets $155-million tax demand notice over component imports

Kia India has received a taxation request announcement from the authorities implicit constituent imports adjacent arsenic the automaker has denied immoderate wrongdoing noting that it has filed a "detailed response" regarding the matter.

As per manufacture sources, the taxation authorities person slapped the automaker a announcement to the tune of USD 155 cardinal for incorrect declaration of imports of components for the assembly of its premium exemplary Carnival.

When contacted implicit the issue, the automaker stated that arsenic a liable and law-abiding brand, it is committed to pursuing each regulatory requirements successful its operations.

"We person consistently cooperated with the authorities whenever required, and we stay dedicated to ensuring implicit transparency passim each processes," it added.

It further said: "Regarding the existent matter, we person already filed a elaborate response, supported by broad grounds and documentation to substantiate our stand." However, arsenic the contented is presently nether information by the applicable authorities, the institution said it would not beryllium capable to remark further oregon supply further details connected the matter.

"We stay committed to complying with each owed processes and regulations," it said.

Skoda Auto Volkswagen India, which represents the Volkswagen radical successful the country, has already filed a lawsuit against taxation authorities implicit the Rs 11,000 crore (about USD 1.4 billion) amusement origin announcement for alleged customs work fraud related to the import of cars arsenic wholly knocked down units.

The Bombay High Court is scheduled to perceive the substance connected February 17.