Archive · 12 Jun 2025
EPACK CEO Calls for Clarity on Copper Import Penalties
A lot of companies that import copper are being investigated for possibly not following the rules when they brought the copper in from other countries.
The government is checking if they followed the rules about how much the copper was changed in those countries.
Now, the government wants them to pay extra taxes, even from a while back, which is making the importers worried.
They're also having to pay money to the government just in case, and they're asking the government to explain things clearly.
They want to know how much extra they might have to pay, because it could be a lot of money.
Some industry groups are also asking the government to step in and help.
EPACK Durable, along with 2,000 copper importers, received show-cause notices for alleged duty evasion.
The inquiry, launched 18 months to 2 years ago, concerns value addition norms under the ASEAN-India Free Trade Agreement (AIFTA).
Importers are contesting retrospective penalties and seeking clarity on the inquiry.
Authorities are demanding full duties up to 35%, along with bank guarantees and provisional duties.
The Bombay Metal Exchange (BME) appealed to the Finance Minister for policy intervention.
- Who
- EPACK Durable, 2,000 copper importers, and the Bombay Metal Exchange (BME).
- What
- Copper importers are contesting retrospective penalties related to duty evasion.
- When
- The inquiry began 18 months to 2 years ago.
- Where
- India
- Why
- To address alleged non-compliance with value addition norms under the ASEAN-India Free Trade Agreement (AIFTA).
Copper Importers
Authorities
Penalties
Copper Importers
Seeking clarity and contesting retrospective penalties.
Authorities
Authorities seeking to enforce full duties and penalties.
- Company Involved
- EPACK Durable
- Number of Importers
- Around 2,000
- Issue
- Alleged Duty Evasion
- Agreement
- ASEAN-India Free Trade Agreement (AIFTA)
- Potential Duty
- Up to 35%
- BME Action
- Appealed to Finance Minister