By Admin 
Samsung: The Government of India has sent a notice to Samsung and its officials to pay a tax and fine of $ 601 million, or Rs 5,150 crore. The company is accused of using wrong methods to avoid tariffs on the import of Ke-Telicom Equipments. In the last few years, this is the biggest tax demand notice sent to a company.
Tax Demand Big Part of Samsung’s net profit
This tax demand is a large part of Samsung’s last year’s 955 million dollars of net profit. Samsung, one of India’s consumer electronics and smartphone markets, can challenge this notice in a tax tribunal or court. Samsung imports telecom equipment through its network division.
Notice has come before
Earlier in the year 2023, the company received a notice to wrongly classified on 10 percent 20 percent tariffs on the required transmission component used in its mobile towers. With this, Samsung pressurized the tax authority to stop the investigation. Giving clarification, the company had said that a tariff cannot be imposed on the component. While the authorities had known about its classification practice for years.
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