DRI detects over Rs 25 cr duty evasion by luxury car importers, arrests 1

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DRI detects over Rs 25 cr duty evasion by luxury car importers, arrests 1 - Business Standard

Quick Summary:

These luxury cars would first be transported to Dubai/Sri Lanka from the USA/Japan, for the purpose of conversion from left to right-hand drive (RHD) and other modifications, before being imported into India by mis-declaring the import value by using fabricated documents.

As per DRI, high-end Luxury Cars were being imported by resorting to undervaluation to the extent of 50 per cent by mis-declaring the import value at the Indian ports to evade the applicable Customs Duties.

The Directorate of Revenue Intelligence (DRI) has detected customs duty evasion of over Rs 25 crore by way of undervaluation by luxury car importers, the finance ministry said on Tuesday.