| Date: |
22-07-2015 |
| Subject: |
DRI detects Rs 3.5 crore customs duty evasion |
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AHMEDABAD: In a joint operation, the Ahmedabad and Surat units of the Directorate of Revenue Intelligence (DRI) on Tuesday detected Rs 3.5 crore customs duty evasion by a Vapi-based firm under the advance authorization scheme. Advance authorization is a duty exemption scheme which enables duty-free import of inputs for export production. Under the scheme, exporters can import raw materials and related inputs with 100% duty exemption.
Acting on specific intelligence, DRI officials found that Yasho Industries Pvt Ltd has been evading customs duty on import of clove oil by mis-declaring it as eugenol and also diverting the clove oil imported duty-free, under advance authorization. The office premises of the importer in Mumbai and factory premises in Vapi were searched by DRI officials of Ahmedabad and Surat. The officials recovered several documents during the search.
According to officials, the firm had mis-declared the goods in order to evade higher customs duty. It is 36% for clove oil in the case of imports from Madagascar and 26% in the case of imports from Indonesia.
"Investigation is continuing," an official said.
Source : timesofindia.indiatimes.com
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