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The DRI busted under invoicing racket to evade customs duty while importing protein supplements from United States

The 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.

The DRI 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

“Recent 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.

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