Diageo's India unit searched as state tax officials review Scotch imports
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Maharashtra tax authorities searched United Spirits, the Indian unit of Diageo, between October 19 and Thursday.
- ✓Officials are probing if the company wrongly classified Scotch imports to pay lower tariffs.
- ✓United Spirits said there was no impact on its financial or operational activities after the search ended this past week.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
United Spirits, the Indian subsidiary of Diageo, was searched by Maharashtra tax authorities due to an investigation. The authorities are probing the misclassification of Scotch imports to determine if companies paid lower tariffs. United Spirits previously faced scrutiny from the Directorate of Revenue Intelligence in an industry-wide inquiry. Despite the searches, the company stated there was no impact on its financial and operational activities.
United Spirits, the Indian unit of liquor giant Diageo, said on Friday that it was searched by tax authorities from the western Indian state of Maharashtra, amid an investigation into misclassification of Scotch imports.
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Economic Times
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