India hits Pernod Ricard with $314M tax demand over alleged Scotch undervaluation
Customs investigators allege Pernod Ricard hid composition and age of bulk Scotch concentrate to undervalue imports by 67.49% and skirt India's 150% tariff. Liability could reach $600M with penalties. Pernod, whose India arm posts $2.9B revenue and 10% of global sales, is contesting at Delhi High Court.
Indian investigators allege Pernod Ricard hid Scotch composition and age to undervalue bulk concentrate imports by 67.49%, dodging 150% tariffs. Tax demand stands at $314M, potentially $600M with penalties. Pernod is contesting at Delhi High Court.
Why this matters
Escalates an ongoing India customs probe into Pernod Ricard's Scotch imports, where prior signals flagged that exposure could top $600M once penalties on alleged tariff evasion are layered on.
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