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European auto major Skoda Auto Volkswagen India on Monday said while it does not support the new reciprocal tariff imposed by the Trump Administration, which have now been paused for 90 days on non-retaliating countries, the move may open up opportunities for the industries in the long term. Earlier, the group, which is battling a Rs 11,000-crore tax show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units, rolled out the all-new Volkswagen Tiguan R Line at an introductory price of Rs 49 lakh. "Of course, we do not support the (reciprocal) tariffs but at the same time there are a lot of discussions about opening up the economy even in India through bilateral trade or free trade agreements," Piyush Arora, Managing Director at Skoda Auto Volkswagen India told PTI here at the launch event. Emphasizing that the group always believes in "free trade" and transfer of technology between countries for customers and their benefits, Arora
The Bombay High Court on Monday expressed "prime facie" dissatisfaction with Skoda Auto Volkswagen India's arguments against a USD 1.4 billion notice from the Customs department. The HC also commended a department officer for his dedicated efforts and thorough research prior to issuing the notice. "Prima facie, we are not satisfied with your (Skoda Auto Volkswagen India) argument. This is only prima facie," a division bench of Justices B P Colabawalla and Firdosh Pooniwalla said. "To entertain such a plea at the stage of show cause notice is something you have to convince us. This is troubling us whether we should entertain the plea at the stage of show cause notice," it added. The notice claimed the German group, led in the country by Skoda Auto Volkswagen India, allegedly provided misleading information to the department by misclassifying its imports of Audi, Skoda and Volkswagen cars as "individual parts" instead of "Completely Knocked Down" (CKD) units, thereby paying ...
The Bombay High Court on Wednesday said it would hear on February 17 a plea filed by Skoda Auto Volkswagen India challenging the tax demand of USD 1.4 billion by Indian customs authorities. The Volkswagen group, currently led in the country by Skoda Auto Volkswagen India, has been accused of deliberately misleading customs authorities through its mode of import of parts as individual units rather than as a component of a 'completely knocked down' (CKD) unit, which attracts higher import duty. The automobile company last month filed a petition in the HC, challenging a show-cause notice issued by the authorities in September 2024 under the Customs Act. On Wednesday, the company's counsels mentioned the plea before a division bench of Justices B P Colabawalla and Firdosh Pooniwalla, seeking urgent hearing. The high court agreed to hear the plea on February 17. The notice alleged that the company misclassified its imports of Audi, Skoda and Volkswagen cars as "individual parts" instea
Skoda Auto Volkswagen India on Monday said it is in discussions with a potential partner regarding possible collaboration in India, refuting speculation that it has halted the process of finding a local collaborator after the investigation over alleged customs duty fraud. The company, which is leading the German automotive group Volkswagen's India operations, asserted that finding a local partner in India and the show cause notice by authorities for alleged customs duty fraud to the tune of Rs 11,000 crore (about USD 1.4 billion) over import of cars as completely knocked down units, are completely separate and unrelated. "To fully explore the country's growth potential, we are always considering new business opportunities and are evaluating various options to ensure the best possible solution to implement our strategy in the highly dynamic Indian market. We are currently in discussions with a potential partner regarding possible collaboration," Skoda Auto Volkswagen India said in a .