Business Standard

Oil trader arrested for evading Rs 46cr customs duty


Press Trust of India Kolkata
An oil trader from the city was Wednesday arrested from Kanpur in Uttar Pradesh by the Directorate of Revenue Intelligence (DRI) officials for evading customs duty worth Rs 46 crore.
The trader is being brought to the city on transit remand, DRI sources said.
A DRI source told PTI that the trader used to evade customs duty by importing edible oil from Indonesia and Malaysia and re-routing them through Bangladesh to get the South Asian Free Trade Area (SAFTA) benefits, which pertains to imports from any SAARC country.
The source said that since Bangladesh does not produce edible oil, it came to the notice of DRI officials and the trader was subsequently warned to pay up duty or face action.
The trader did not pay heed to the DRI warning and was arrested on Wednesday, the sources said.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2019 | 7:45 PM IST

Explore News