Kokuyo Camlin wins ₹7.9 crore tax tribunal ruling

Kokuyo Camlin announced that India's Customs, Excise and Service Tax Appellate Tribunal set aside an excise duty demand of approximately ₹7.9 crores.

The original demand from May 2023 related to refund claims under a special exemption scheme for the company's manufacturing unit in Jammu. Tax authorities had alleged excess refund claims, citing insufficient value addition requirements.

The tribunal's July order remands the matter for fresh adjudication. Kokuyo Camlin reported no financial impact, as the previously disclosed contingent liability is now set aside.