Chennai, Jun 14 (UNI) Officials of the Directorate of Revenue Intelligence (DRI) raided the premises of five importers and seized glass sheets worth Rs 2.5 crore, which were highly under valued in imports.
DRI Additional Director General Dr P Babu said here today that based on specific intelligence, the raids were conducted at five locations in Chennai, Coimbatore, Vijayawada and Hyderabad and evidence pertaining to undervaluation in import of clear sheet glass and colour reflective glasses by importers were found.
During the raids, evidence to this effect were found from the computers of the importers, one of which had stated that they indulge in undervaluation but the person controlling the purchase alone would only know the actual extent of undervaluation.
In another case, it was found that the freight amount of US Dollar 700 declared was less than the half of the actual freight of US Dollar 1,625, he said.
Dr Babu told that Rs 2.5 crore worth imported goods were seized during the raids and the electronic data collected from the computers were being verified to ascertain the extent of undervaluation.
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