DRI detects customs duty evasion of Rs 2,217 cr by Vivo Mobile India
During an investigation pertaining to Vivo Mobile India Private Limited, the Directorate of Revenue Intelligence (DRI) on Wednesday said it has detected customs duty evasion of around Rs 2,217 crore, said the government.
Vivo India is a subsidiary company of Vivo Communication Technology Co. Ltd., Guangdong, China, and is engaged in the business of manufacturing, assembling, wholesale trading as well as distribution of mobile handsets and accessories thereof.
“During the course of investigation, searches were conducted by DRI officers at the factory premises of M/s Vivo India, which led to the recovery of incriminating evidence indicating wilful mis-declaration in the description of certain items imported by M/s Vivo India, for use in the manufacture of mobile phones,” said Ministry of Finance in a statement.
“This mis-declaration resulted in wrongful availment of ineligible duty exemption benefits by M/s Vivo India, amounting to Rs 2,217 crore. After completion of the investigation, a Show Cause Notice has been issued to M/s Vivo India demanding Customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act, 1962,” the ministry further said
A sum of Rs 60 crore has been voluntarily deposited by Vivo India, towards discharge of their differential duty liability.
Recently, in another set of investigations conducted by DRI, show cause notices demanding duty of Rs 4,403.88 crore have been issued to M/s Oppo Mobiles India Private Limited.
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