DRI detects Customs Duty Evasion of Rs 2217 Crore of this Chinese Company; Check Details
The Directorate of Revenue Intelligence (DRI) has found that M/s Vivo Mobile India Private Limited (hereinafter referred to as “M/s Vivo India”) is engaged in customs duty evasion amounting to approximately Rs 2,217 crore.
As a division of M/s Vivo Communication Technology Co. Ltd. in Guangdong, China, M/s Vivo India manufactures, assembles, wholesale trades, and distributes mobile handsets and their related accessories.
Searches by DRI officers at M/s Vivo India’s factory premises throughout the course of the inquiry resulted in the recovery of incriminating evidence suggesting deliberate misrepresentation in the description of certain commodities imported by M/s Vivo India, for use in the manufacture of mobile phones.
Due to this error in reporting, M/s Vivo India improperly claimed duty exemption benefits of Rs 2,217 crore that were not qualified. Following the conclusion of the investigation, M/s Vivo India has been served with a Show Cause Notice under the provisions of the Customs Act of 1962, requesting payment of customs duties of Rs. 2,217 crore.
M/s Vivo India has voluntarily put up a sum of Rs 60 crore to cover its differential duty burden.
Show Cause Notices demanding duty of Rs. 4,403.88 crore have recently been issued to M/s Oppo Mobiles India Private Limited as part of another series of investigations by DRI.
