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EVADING CUSTOM DUTY
Waaree Energies shares crash 5%. Can this US ruling dent solar panel maker's image for long?Waaree Energies shares fell nearly 5% after a US Customs ruling triggered concerns over reputational impact despite the company’s clarifica...- Waaree Energies says US probe found no Chinese cells in its solar panels; operations unaffectedWaaree Energies announced Sunday that a US probe found no evidence of exporting solar panels made with Chinese cells. The investigation, co...
- Tax vs Customs: Why MNCs face a growing valuation and compliance battleMNCs face rising conflict between tax and customs rules on related-party pricing, as India’s tighter digital scrutiny raises compliance ris...
- Maruti Suzuki receives show cause notice worth Rs 16 lakh from customs departmentIn a regulatory filing, the company said: "customs department has alleged the company for evading custom duty amounting Rs 16,27,085 by wro...
- Xiaomi, Oppo, Vivo and Lenovo under probe over alleged GST evasionThe Indian government is pursuing unpaid tax dues from Chinese smartphone brands, including Xiaomi, Oppo, Vivo, and PC maker Lenovo, and in...
- ED attaches over Rs 7-crore assets in duty-free gold diversion caseThe ED case against the company and its promoters is based on an earlier complaint filed by the Directorate of Revenue Intelligence (DRI) i...
- Importers, resellers on e-market places face heat over duty evasionShipments worth a few hundred crores are stuck at several ports as the customs department has stepped up its due diligence to catch evaders
- Customs Department seeks to proclaim Nirav Modi absconder in duty evasion casePublic prosecutor Nayan Sukhadwala said that a case for alleged customs duty evasion has been registered against Nirav Modi by the central ...
- FinMin reduces penalty for customs duty fraud by 10%The penalty in cases of customs duty fraud has been reduced by 10 per cent by the Finance Ministry, amending Section 28 of the Customs Act.
- DRI steps up probe into alleged evasion of customs duty by Lalit ModiThe aircraft, imported by travel firm Golden Wings, was reportedly used by Modi during 2009-10, officials said.
- Customs duty evasion: Finance Ministry proposes to reduce penaltyThe Centre has also proposed to rationalise imposition of penalty on central excise duty and service tax evasions by fraud and other means.
- Importers undervalue Chinese goods to evade customs dutyA peek at how Chinese goods are grossly undervalued by importers to evade customs duty has thrown up some startling facts and figures, reve...
- Finance Ministry detects tax evasion of over Rs 4,500 croreOut of the total Rs 4,744.92 cr of indirect tax evasion detected during Apr and December last year, officials made a recovery of Rs 531 cro...
- Tax officials dig out old cases to meet target; speed up probeTax evaders beware! Old cases are being dug up and pending investigations expedited by issuing demand notices to defaulters.
- Govt reduces operation timeframe of foreign-registered planes from 6 months to 60 daysThe government, through a notification, has reduced the timeframe for a foreign registered private aircraft to operate in India from six mo...
- Sterlite evaded duty in export of copper waste: CustomsCustoms department on Saturday charged Sterlite Industries with evasion of duty to the tune of several crores in export of copper waste.
- Customs case: Sterlite VP gets bailThe Madurai bench of the Madras High Court granted bail to Sterlite Industries vice-president S Varadharajan, who was arrested in an allege...
- HP India gets Rs 1,450-cr tax notice for Customs evasionThe government has slapped a tax notice of Rs 1,450 crore on the computer-maker Hewlett Packard India for allegedly evading Customs duty, a...
- Anil Ambani group withdraws petition in Yacht caseAmmolite Holdings Ltd, an Anil Dhirubhai Ambani Group company, on Friday withdrew its petition against customs department which had alleged...
- Private cos evading duty in importing aircraft may fly into troublePrivate companies importing aircraft with non-scheduled operators’ permit (NSOP) and deploying them for private use better watch out.
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