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MISDECLARING
Vedanta arm Talwandi Sabo Power faces Rs 127 crore penaltyVedanta's subsidiary, Talwandi Sabo Power Ltd, must pay approximately Rs 127 crore plus late payment surcharge to Punjab State Power Corpor...- Pakistan caught red-handed again: FATF's new report exposes the dirty tricks of IslamabadThe Financial Action Task Force (FATF) has exposed Pakistan's use of mis-declared dual-use goods for its ballistic missile program, citing ...
- Nhava Sheva Customs intercepts 189 MTs of areca nuts, one heldIndian Customs seized 189.6 MTs of Areca Nuts valued at Rs. 9.63 crores in a crackdown on smuggling. The items were mis-declared in import ...
- Shipping 'grapes', selling onions: How smugglers defy export banIndia banned the export of onions effective December 8 to make the essential kitchen staple cheaper for domestic consumers. This has led to...
- DRI initiates probe into parts imports by wind energy companiesThe government offers several fiscal and financial incentives, including customs duty concessions, on certain components of wind-driven gen...
- Customs holds 800 containers of heavy melting scrap across key portsThe authorities said the consignments had been held on the grounds of misdeclaration of the port of origin as the United Arab Emirates (UAE...
- Panama Papers: ED seizes over Rs 41-cr valued prime real estate of Zavareh PoonawallaThe ED said besides "mis-declarations" in remittances, Zavareh Poonawalla and his family members also "wrongly" claimed these investments a...
- Cases under probe for fraud, misdeclaration of material not to be covered under FTP's amnesty schemeThe government announced the new FTP on March 31. It included an amnesty scheme for exporters for one-time settlement of default in export ...
- Gujarat: DRI seizes mobile accessories, branded goods worth Rs 80 crore at Mundra portThe articles were concealed in a consignment of garment accessories and ladies footwear having a declared value of Rs 1.5 crore, he said. A...
- DRI detects customs duty evasion of Rs 2217 crore by Vivo India, show cause notice issued“During the course of investigation, searches were conducted by DRI officers at the factory premises of M/s Vivo India, which led to the re...
- DRI detects customs duty evasion of Rs 4,389 cr by Oppo IndiaAccording to a PIB press release, during the course of investigation, searches were conducted by DRI at the office premises of Oppo India a...
- Chinese App Ban: AliExpress escapes the axeAliExpress, which ships individual packages, had managed to keep a low profile despite allegedly using similar tactics.
- DRI sounds alert over smuggling of infrared thermometers into India from ChinaThe Directorate of Revenue Intelligence (DRI) official said there is information to suggest that smugglers may under-value or mis-declare t...
- A tale of two diamond manufacturing cos in troubleOne, a Diamond Trading Company sightholder, has cash flows troubles and is highly leveraged . The other has reportedly misdeclared imports ...
- Misdeclaration, undervaluation emerging as innovative methods of smuggling: FICCIFICCI CASCADE, said the seizure value for misdeclaration of goods stood at Rs 1,187 crore in 2016, while that of undervaluation of goods st...
- Government eases penal provisions for customs, excise offencesIn a bid to reduce harassment of overseas travellers, the government today eased the penal provisions by raising fourfold to Rs 20 lakh the...
- Finance Ministry detects about Rs 1,000 cr customs, excise duty evasionThe Finance Ministry has detected customs and excise duty evasion of at least Rs 1,000 crore between January and July.
- Over Rs 1,800 cr duty evasion detected by DRI last fiscalAs many as 434 cases involving duty evasion of Rs 724.46 crore were registered by the agency during 2007-08 as against 391 cases in 2009-10.
- Don't cross borders with banned goodsImport or export of goods prohibited under the Customs Act as well as misdeclaration are set to become punishable offences.
- Export certification norms made easierThe Customs department has clarified that self-certification of export shipments would be allowed though certain changes have been made in ...
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