Panama Petrochem Limited announced that it has received an Order No. 20/DSR(20)/CC(ADJN.)/MUMBAI /2024-25 from the Office of the Commissioner of Customs (Adjudication) Mumbai, demanding differential IGST of INR 173,095,739; imposed redemption fine of INR 36,000,000 under Section 125 of the Customs Act, 1962 and penalty of INR 12,500,000 under Section 112(a) of the Customs Act, 1962. The Order has been passed demanding differential IGST on import of goods from October 13, 2017 to January 9, 2019 against Advance Authorisation on alleged non-fulfilment of pre-import condition as contemplated in Notification No.79/2017-Cus dated October 13, 2017.