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BMW faces import duty probe in India,may be fined $100 mn: report

BMW has allegedly declared imported car parts as part of larger assemblies rather than as separates.

Written by Reuters | Frankfurt | Published: September 9, 2013 12:10:22 pm

German carmaker BMW faces a fine of at least $100 million in India for alleged violations of import rules,WirtschaftsWoche reported.

India’s customs office claims that BMW has for years declared imported car parts as part of larger assemblies rather than as separates,paying lower import duties than it should have as a result,the German weekly magazine said.

Customs authorities have imposed a fine of at least $100 million,which could grow further in a second stage,WirtschaftsWoche said,without specifying where it obtained the information.

It said BMW has appealed the decision.

A spokesman for the BMW said an investigation was ongoing and the company was cooperating with the authorities. He declined to comment on the status of the probe.

Indian customs authorities were not immediately available for comment.

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