Kia India Faces $155 Million Tax Demand Over Component Imports
Kia India has received a tax demand notice amounting to USD 155 million for alleged wrong declaration of component imports related to its Carnival model. Kia denies any misconduct, emphasizing its compliance with regulations and having submitted a comprehensive response. The case awaits consideration by authorities.
- Country:
- India
Kia India has been served with a significant tax demand notice amounting to USD 155 million from authorities pertaining to component import declarations for its premium Carnival model.
The automaker denies any wrongdoing, highlighting its compliance with all regulatory obligations and asserting it has provided a comprehensive response to the notice.
This situation arises as Skoda Auto Volkswagen India challenges a separate massive tax notice in the Bombay High Court, further highlighting ongoing tax disputes within the automotive sector.
(With inputs from agencies.)
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