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Elgi Equipments gets Rs 25.6 crore tariff refund

Air compressors maker Elgi Equipments said its US arm has received US tariff refund of USD 2.68 million following the US Supreme Court verdict.

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Elgi Compressors USA INC, has received a tariff refund from U.S. Customs and Border Protection (CBP) amounting to USD 2.68 million, equivalent to about Rs 25.6 crores. This is consequent to the US Supreme Court’s directives to the US Government to refund the excess tariff collected from the importers, the company said in a stock exchange filing.

Also read: US Supreme Court strikes down Trump’s global tariffs

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