After the completion of the investigation, a show cause notice has been issued to Vivo India.
After the completion of the investigation, a show cause notice has been issued to Vivo India.
The Directorate of Revenue Intelligence (DRI) has detected customs evasion of around Rs 2,217 crore by smartphone maker Vivo India, a subsidiary of China-based Vivo Communication Technology, the finance ministry said in a statement issued on Wednesday.
During the investigation, searches were conducted in the premises of Vivo India’s factory by DRI officials, which led to the recovery of incriminating evidence indicating intentional mis-declaration in the details of certain items imported by it for use in manufacturing of mobile phones.
As a result of this mis-declaration, ineligible duty exemption benefits were wrongly availed by Vivo India amounting to ₹2,217 crore, the statement said.
After the completion of the investigation, a show cause notice has been issued to Vivo India, seeking customs duty of Rs 2,217 crore under the provisions of the Customs Act, 1962.
The statement said that Vivo India has voluntarily deposited Rs 60 crore for the discharge of its various duty liabilities.
Vivo Mobile India Private Limited or Vivo India is a subsidiary of Vivo Communication Technology Co., Ltd., Guangdong, China, and is engaged in the business of manufacturing, assembling, wholesaling as well as distribution of mobile handsets and accessories.
Recently, in another set of investigations conducted by the DRI, show cause notices were issued to Oppo Mobiles India Pvt Ltd demanding a fee of ₹4,403.88 crore.