Business Standard

DRI arrests two over Rs 19-cr duty evasion

IANS  |  Kolkata 

The Directorate of Revenue Intelligence (DRI) on Tuesday said it had detected customs duty evasion of Rs 19 crore in the import of e-rickshaws by a city-based company and arrested its two Directors.

"The DRI detected the import of e-rickshaws worth Rs 150 crore by Zeniak Innovation India Ltd through the Kolkata Port through mis-declaration so as to evade duty of Rs 19 crore," a DRI statement said.

Company Directors Golam Moinuddin and Mazibur Biswas were arrested on Monday on charges of duty evasion.

The agency said the three-wheelers in completely knocked down condition were imported by mis-declaring these as "spare parts of electric tricycles" and thus paying only 10 per cent customs duty.

The imports were split into many consignments which individually did not contain all parts of an e-rickshaw, thus enabling the accused to claim duty benefit.

The DRI said that searches at the company factory in Howrah district revealed it was used as warehousing facility for imported products, adding that no infrastructure/plant/machinery was found on the premises.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 24 2018. 21:16 IST
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