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DRI seizes garments worth Rs 4.5 crore

Written by: Staff
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Chennai, Dec 5 (UNI) The Officials of the Directorate of Revenue Intelligence(DRI) have seized imported denim and polyester corduroy fabrics, worth Rs 4.5 crore.

A DRI press release said here today that acting on a specific intelligence, the DRI effected the seizure. A Mumbai-based firm was importing denim fabrics under Duty Exemption Entitlement Certificate (DEEC) scheme, but diverting the same to the local market.

As per the DEEC scheme, advance licences were issued to exporters for import of raw materials without payment of customs duty and utilise them in the manufacture of resultant products and export the same in fulfilment of the export obligation.

The materials were imported duty free for utilisation in the manufacture of products for export in fulfilment of the obligation under the licence issued under the DEEC scheme.

The verifications, however, revealed that the Mumbai-based importer was non-existent, showing that the seized materials imported duty free could not be used for manufacture of export products.

The total customs duty evasion, worked out to Rs 2.74 crore, was detected. In this connection one person was apprehended in Mumbai and further investigation was in progress.

In another case, a foreign national leaving for London from the airport here was arrested yesterday, on charges of possessing 13,415 US dollors, 2,000, 35 British pounds and 77 Argentinean pesos, without any valid document.

The arrested person was not only having any valid document for export of the foreign currencies, but had also not declared any foreign exchange, while entering into India on November 24.

Later, he was remanded to judicial custody, the release added.

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