Directorate of Revenue Intelligence (DRI) has arrested one of the largest
importers of protein supplements in India for evading customs duty of about Rs
14 crore by undervaluing the imports using fake invoices.
investigation has found that an owner of the Mumbai based company used to import Whey protein and health
supplements of foreign brands such as BPI Sports, Dymatise Nutrition and GAT
from suppliers in the US and at the time of customs clearance in India used to
produce undervalued invoices of a US firm,run by his own brother.
The DRI has
also found that the company owner has transferred Rs 36 crore (the difference
between the actual price of the supplements and the declared value) to his
brother in US through two hawala operators this year.
Respondent has used hawala channels to
transfer huge amount of money to US through Dubai
investigation has brought to light that the respondent has used hawala channels
to transfer huge amount of money to US through Dubai… It is also revealed that
he has been using the illegal fake invoicing route of GST (Goods and Services
Tax) for generating cash,” said the remand application of DRI filed in a local
court in Mumbai. The agency has alleged that the company owner has generated Rs
1 crore this calendar year through fake invoicing route.