DRI arrests importer for evading Rs 3.5 crore customs duty

Chennai, Jan 21 (UNI) Directorate of Revenue Intelligence (DRI) has arrested a Hyderabad-based importer for evading customs duty to the tune of Rs 3.5 crore in the import of LED video display panels with video image driver box and decoration lights from a US-based company.

In an official release here, DRI said the accused had adopted a modus-operandi to procure the goods manufactured by two companies based at Hong Kong by his US-based company at higher value of 21.67 lakh US Dollars in order to evade customs duty.

The accused had ensured the payment of the differential amount to the companies in Hong Kong by his firm in United States and from his personal account. The arrangement was also made for the payment by a Dubai-based person.

The accused was remanded to judicial custody, the release added.

UNI SNR KVV KK RK2009