Khadim India Limited Announces Pending Litigations Included an Excise Matter Before Customs, Excise & Service Tax Appellate Tribunal, Delhi
April 15, 2024 at 03:23 pm
Share
Khadim India Limited informed that in the above-mentioned matter, the Hon'ble CESTAT vide its Order dated April 12, 2024 (received by the Company on April 15, 2024) has given their ruling in favour of the Company. In its Order, it was held that the entire period of demand in the matter is beyond the normal period of limitation and hence, the demand of 50,045,353/- (Rupees Five Crores Forty Five Thousand Three Hundred and Fifty Three) along with applicable interest and penalty of 50,045,353/- (Rupees Five Crores Forty Five Thousand Three Hundred and Fifty Three) is time barred and set aside.
Khadim India Limited is an India-based branded footwear company. The Company's business segment is footwear and accessories. The Company operates through two business verticals, such as retail and distribution, each with own customer base, sales channels and product range. Its retail products are relatively more premium than those sold in its distribution business and are sold through its network of retail stores, including company owned outlets and franchisees. Its retail products include leather/non-leather sandals, slippers, boots, ballerinas, stilettos, moccasins, sports shoes and accessories, such as socks, shoe polishes, brushes, leather belts, wallets and laptop bags, among others. Under its distribution business, the Company manufactures and supplies footwear to distributors, who, in turn, supply them to multi-brand outlets (MBOs) across India. Its brands include khadim, Pro, Sharon, Bonito, Lazard, Softouch, Cleo, British Walkers, Turk, Fliers, Kalypso, FitNxt and Dunford.
KHADIM INDIA LIMITED 
