The DRI discovered Vivo India’s Rs. 2,217 crore customs duty evasion; finance ministry claims
Vivo India, a subsidiary of China-based Vivo Communication Technology, was found to have avoided paying customs duties to the tune of over Rs 2,217 crore.
According to a statement made on Wednesday by the Finance Ministry, Vivo India, a subsidiary of China-based Vivo Communication Technology, was found to have avoided paying customs duties to the tune of over Rs 2,217 crore.
The firm manufactures, assembles, wholesale trades in, and distributes mobile devices and their related components.
Searches carried out by DRI investigators at the Vivo India facility throughout the inquiry resulted in the collection of damning evidence. This suggests deliberate misdeclaration in the description of some commodities imported by it for use in the production of mobile phones.
According to the statement, this misdeclaration caused Vivo India to improperly claim duty exemption benefits totaling Rs. 2,217 crores.
Following the inquiry, Vivo India was given a show-cause notice under the terms of the 1962 Customs Act. Which then demanded payment of customs duties of Rs. 2,217 crores.
Vivo India has so far voluntarily contributed Rs 60 crores towards the payment of their differential duty burden.
Oppo Mobiles India Private Limited was recently sent show-cause letters in connection with another round of investigations by DRI. That demanded duty in the number of Rs. 4,403.88 crores.
The Directorate of Revenue Intelligence (DRI) said on Wednesday that it has discovered customs duty evasion of over Rs 2,217 crore. While conducting an inquiry into Vivo Mobile India Private Limited.
