E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Business»Vivo Mobile India accused of Rs 2,217 crore customs duty evasion
Business

Vivo Mobile India accused of Rs 2,217 crore customs duty evasion

By August 3, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

The Directorate of Revenue Intelligence (DRI) has detected customs duty evasion of around Rs 2,217 crore by Vivo Mobile India Private Limited.

A show cause notice has been issued to Vivo India demanding customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act.

A DRI official said that Vivo Mobile India Private Limited is a subsidiary of Vivo Communication Technology Co. Ltd, Guangdong, China, and is engaged in the manufacturing, assembling, wholesale trading as well as distribution of mobile handsets and accessories.

During the course of investigation, searches were conducted by DRI officers at the factory of Vivo India, which led to the unearthing of incriminating evidence indicating wilful mis-declaration in the description of certain items imported by Vivo India, for use in the manufacture of mobile phones.

“This mis-declaration resulted in wrongful availment of ineligible duty exemption benefits by Vivo India, amounting to Rs 2,217 crores. After completion of the investigation, a show cause notice has been issued to Vivo India demanding customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act,” the official said.

He added that a sum of Rs 60 crore has been voluntarily deposited by Vivo India towards discharge of their differential duty liability.

Recently, in another set of investigations conducted by the DRI, show cause notices demanding duty of Rs 4,403.88 crore had been issued to Oppo Mobiles India Private Limited.



[ad_2]

Source link

Related Posts

Air Duct Repair 101: Everything You Need To Know

By Corbin BowenFebruary 2, 2023

Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant

By January 5, 2023

LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer

By January 5, 2023

Foreign universities will need UGC’s nod to set up campuses in India

By January 5, 2023
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Rashid Khan: A Nightmare For Every Batsmen January 18, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.