The Directorate of Revenue Intelligence (DRI) has claimed that it has detected Customs duty evasion of over Rs 2,000 crore during an investigation into Vivo India.
During the course of the investigation, DRI officers conducted searches at the factory premises of Vivo India, which according to a press note, led to the recovery of incriminating evidence indicating alleged wilful misdeclaration in the description of certain items imported by the company, for use in the manufacture of mobile phones.
This resulted in alleged wrongful availment of ineligible duty exemption benefits amounting to Rs 2,217 crore. After the investigation, a show-cause motice was issued to Vivo India on June 21, seeking the mentioned amount under the provisions of the Customs Act, 1962.
Vivo India has voluntarily submitted a sum of Rs 60 crore towards the discharge of its differential duty liability, the note said.
Earlier in July, the DRI detected an alleged Customs duty evasion of around Rs 4,389 crore by OPPO India in an investigation at the office premises and residences of key management employees.
Vivo India is a subsidiary of Vivo Communications Technology Co. Ltd, Guangdong, China, and is engaged in the business of manufacturing, assembling, wholesale trading as well as distribution of mobile phones and accessories thereof.
First Published: Aug 3, 2022 5:19 PM IST
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