Report – BMW faces possible fine for violating import rules in India image

According to a report, German carmaker BMW faces a fine of at least $100 million euros in India for alleged violations of import rules.

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, said the German weekly magazine WirtschaftsWoche.

A spokesman for the carmaker said an investigation was ongoing and the company was cooperating with Indian authorities. He declined to comment on the status of the probe. Still, according to the paper, customs authorities have imposed a fine of at least $100 million, which could grow further in a second stage and BMW has appealed the decision.

Still, the German paper did not say what sources were used in finding the information and Indian customs authorities could not be contacted on the matter.

Via Reuters