DRI cracks under-valuation of adhesive tape import

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Chennai, Sep 24 (UNI) The Directorate of Revenue Intelligence (DRI) has cracked a case of under-valuation of import of adhesive tapes in searches conducted on an importer's premises and arrested two in this connection.

According to a DRI release here, a Chennai-based importer had imported about 20 consignments of adhesive tapes and cleared them through Chennai Port during the last one year. The goods manufactured in China were imported to the country on the basis of invoices for a lesser value, raised by an intermediate dealer in Hong Kong.

The importer and his accomplice were arrested on September 21 and remanded to judicial custody.

The DRI personnel cracked data in the importers Computer, which revealed original invoices raised by the Chinese manufacturer. Values shown in the original invoices were five times as high as the one the intermediate dealer submitted to the Customs for clearance.

Adhesive tapes worth Rs 2.3 crore, attracting a Customs duty of obver Rs 84 lakhs were imported showing a value of about mere Rs 58 lakhs and cleared on payment of duty of Rs 21 lakh. The customs duty evaded is estimated to be Rs 63 lakh, the release added.

UNI

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