DRI reports excavation of customs duty worth INR 4389 CR
Oppo India, one of the famous smartphone brands in India, was evading custom duties to the tune of Rs. 4000 CR by the DRI.
According to the press release by Press Information Bureau, the residence of the management employees of Oppo India was searched by DRI during the investigation period.
This miss declaration by Oppo India caused illegitimate ineligible exemption benefits amounting to Rs 2,981 CR. The customs authorities accepted wrongful statements from the superior management employees and domestic providers at the time of importation.
In exchange for the use of proprietary technology, the industries made provisions for payment of royalty and licence fees to multinational companies based in China.
Oppo industries are assembling, manufacturing, wholesale commerce, and distributing Smartphones and their accessories across India. The accused enterprise is currently partners with several smartphone brands, including Realme, OnePlus, and Oppo.
‘ED raids disrupt business, hurt environment for foreign investors’
The Chinese Embassy in India said last week that the business environment in India for foreign investors is impeding because of the systematic investigation into Chinese organisations and their business activities.
“The frequent investigations by the Indian side into Chinese enterprises not only disrupt the enterprises’ normal business activities and damage the goodwill of the enterprises, but also impedes the improvement of business ED raids disrupts business, hurts environment for foreign investors in India and chills the confidence and willingness of market entities from other countries, including Chinese enterprises to invest and operate in India,” Wang Xiaojian, a spokesperson for the embassy of China in New Delhi stated this.
The ministry stated that a cause notice had been issued to Oppo India, demanding a custom duty of 4,389 CR. Under the customer act of 1962, the statement proposes imposing penalties on Oppo India and its employees and Oppo China.
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