New Delhi, Aug. 7 -- Auto component maker Bosch Ltd said on Thursday, 7 August, that it has been issued a demand of over Rs.140 crore, along with interest, from the Indian customs authority for differential duty on oxygen sensors.

In a regulatory filing, the company said it has received an order passed by the Principal Commissioner of Customs (Import) Air Cargo Complex, New Delhi, regarding an interpretation of the classification of oxygen sensors.

The order is on account of interpretation on classification of oxygen sensors from one category to another, resulting in differential duty of Rs.70,41,16,516, interest and penalty of Rs.70,45,59,538, amounting to a total demand of Rs.1,40,86,76,054 plus interest, it added.

Bosch further said...