Date:23/01/2008 URL: http://www.thehindu.com/2008/01/23/stories/2008012359410500.htm

Andhra Pradesh

Customs duty evasion detected

Special Correspondent

HYDEREABAD: Officials of the Directorate of Revenue Intelligence (DRI) have detected a case of Customs duty invasion to the tune of Rs. 3.5 crore in the import of LED video display panels by a city-based importer.

A DRI press release stated that the importer was also owner of a US-based company. He used to procure goods from Hong Kong in the name of the company and send to the city-based importer at a much lower value to evade the customs duty. He used to arrange payment of differential amounts to Hong Kong-based companies from his firm and also from his personal account through a Dubai-based person. The DRI did not release the names of the arrested person and the companies involved.