DRI detects Customs duty evasion of Rs. 2,217 crore by M/s. Vivo Mobile India Pvt. Ltd.

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..... DRI detects Customs duty evasion of Rs. 2,217 crore by M/s. Vivo Mobile India Pvt. Ltd. - News and Press Release Dated:- 3-8-2022 - News - During an investigation pertaining to M/s Vivo Mobile India Private Limited (hereinafter referred to as M/s Vivo India ), the Directorate of Revenue Intelligence (DRI) has detected Customs duty evasion of around Rs 2,217 crore. M/s Vivo India is a subsidi .....

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..... ary company of M/s 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 i .....

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..... ndicating wilful mis-declaration in the description of certain items imported by M/s Vivo India, for use in the manufacture of mobile phones. 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 a .....

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..... mounting to Rs. 2,217 crore, under the provisions of the Customs Act, 1962 . A sum of Rs 60 crore has been voluntarily deposited by M/s 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. - News - .....

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..... Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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