German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules. This was confirmed by WirthschaftsWoche.
The customs office of India said BMW had for many years declared that its imported card into India were part of larger assemblies rather than separates. This resulted in the imposition of lower import duties than what should have been charged. According to the German weekly magazine, the EUR100 million fine may grow further as the investigation is continued. The paper did not name its source for the information.
In a statement with BMW, it said it had already filed an appeal of the decision. A spokesperson added that an investigation was already underway and the company was cooperating with Indian customs authorities. The spokespersn declined to further elaborate on the status of the probe.
For its part, Indian customs authorities were not available for comment as it was a Saturday.
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