Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

CAIT urges govt to probe Chinese goods imported via hawala route.

Date: 18-03-2019
Subject: CAIT urges govt to probe Chinese goods imported via hawala route
Traders' body Confederation of All India Traders Sunday urged the government to probe Chinese goods imported through hawala channels, which is resulting in huge revenue loss to the exchequer. 

CAIT, in a statement, also claimed that "such hawala money might be transferred to Pakistan for conducting terrorist activities". 

Calling it a serious matter, the traders' body urged the government to start a high level enquiry at Indian ports to bring an end to the crony nexus. 

"Who are these hawala operators who facilitate transfer of money from our country to China. Are exports to China being under invoiced and difference settled through hawala transactions or there is some other mode through which this money is going. This needs to be checked at the highest level in the interest of security of our country," it added. 

Stating that India is facing a big fight against terrorism, CAIT said, "There is no doubt that someone is funding this terrorist activities. It is necessary to understand whether this funding can be linked to under invoicing of import from China. In this way, China is helping fund terrorist". 

This aspect also needs to be investigated in view of the fact that China is not standing with India in its fight against terrorism, it added. 

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that in order to attract lower custom duty and lower IGST (Integrated Goods and Service Tax), the declaration in many cases do not match the material that is actually being imported. 

This needs verification of documents along with the material that is imported from China, they said. 

They also suspected that "it could be collusion or hand in glove offer with certain mysterious officers". 

When such materials, which are grossly undervalued come to the port, custom duty is paid at a very low price. The IGST is also paid at a very lower price and then the material goes into grey market where it is sold at very competitive prices as compared to Indian goods where GST is paid at full amount, they said. 

According to CAIT, it could be easily substantiated if verification of IGST paid at customs port is linked to the credit for IGST taken by importers. 

"Surprisingly, it will be seen that in most of the cases, where Chinese goods have been imported, nobody has claimed IGST. This proves the point that the importer has sold the material in grey market for which nobody has claimed IGST paid at the time of imports," it said. 

If the government takes up this matter and is very vigilant that custom duty and IGST is recovered at the real value of imported material, Chinese goods will become costly automatically as compared to Indian goods which bear full amount of GST, the CAIT added. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 29-11-2020
Notification No. 89/2020 – Central Tax
Seeks to waive penalty payable for noncompliance of the provisions of notification No.14/2020 – Central Tax, dated the 21st March, 2020.

Date: 27-11-2020
Notification No. 109/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 27-11-2020
Circular No. 52/2020-Customs
Exports of Gems and Jewellery through Courier mode - reg.

Date: 27-11-2020
Notification No. 40/2020-Customs (ADD)
Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR

Date: 27-11-2020
Notification No. 41/2020 -Customs (ADD)
Seeks to further amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles” originating in or exported from China PR, for a period upto and inclusive of the January 31, 2021

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Date: 26-11-2020
Notification No. 39/2020-Customs (ADD)
Seeks to amend notification No. 51/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of "Fully Drawn or Fully Oriented Yarn/Spin Drawn Yarn/Flat Yarn of Polyester " originating in or exported from China PR & Thailand , for a further period upto and inclusive of 31st December, 2020

Date: 26-11-2020
Public Notice No. 30/2015-20
Revision of SION A1827 of Export Products - Ossein

Date: 23-11-2020
A.P. (DIR Series) Circular No. 07
Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India by foreign law firms

Date: 20-11-2020
Circular No.51/2020-Customs
Clarifications regarding availment of exemption on temporary import of durable Containers - reg.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001