Volkswagen India Assures Full Cooperation Amid $1.4 Bn Tax Evasion Notice

German automotive group Volkswagen on Friday said it is extending full cooperation to authorities in India following a show cause notice over alleged customs duty fraud. The group, which is currently led in India by Skoda Auto Volkswagen India, is understood to have been slapped a show cause by authorities for alleged customs duty fraud to the tune of around Rs 11,000 crore (about USD 1.4 billion) over the import of cars as completely knocked down units.

"We are analysing the notice and extending our full cooperation to the authorities," Skoda Auto Volkswagen India said in a statement.

While not elaborating on the notice, the company said it being "a part of a global group, is a responsible organisation, fully complying with all global and local laws and regulations".