New Delhi [India], May 14 (HBTV): Specific intelligence developed by DRI indicated that high-end luxury cars were being imported by resorting to undervaluation to the extent of 50 percent by mis-declaring the import value at the Indian ports of import to evade applicable Customs duties, said a statement from the Ministry of Finance.
These luxury cars would first be transported to Dubai/Sri Lanka from the USA/Japan for the purpose of conversion from left to right-hand drive (RHD) and other modifications before being imported into India by mis-declaring the import value using fabricated documents.
In regard to this, DRI has arrested one of the biggest importers involved in this commercial fraud, based in Hyderabad, who has imported eight such high-end luxury cars involving customs duty evasion of more than INR 7.0 Crores. The CJM Court, Ahmedabad, has sent him to judicial custody.
In the investigation, it was ascertained that more than 30 luxury cars, including models like the Hummer EV, Cadillac Escalade, Rolls-Royce, Lexus, Toyota Land Cruiser, and Lincoln Navigator, have been imported using the above modus operandi.
The importers involved are based in Hyderabad, Mumbai, Pune, Ahmedabad, Bangalore, and Delhi, with estimated duty evasion of more than INR 25.0 Crores.
Other importers and actual users of the imported cars, on whose behalf these cars were imported, are under the scanner of DRI.
(ANI)