Samsung offices searched by DRI over suspected customs duty evasion
Directorate of Revenue Intelligence (DRI) officials reportedly searched Samsung Electronics' over suspected evasion of import duty on network equipment. The searches began on the firm’s offices on Wednesday, but there is no clarity on whether the DRI found any evidence of customs duty evasion.
Officials inspected documents related to imports as provided by Samsung.The DRI will take necessary steps to understand whether the South Korean company has evaded customs duty.
The company enjoys zero duty on the import of telecom products manufactured in its home base and Vietnam under the free trade agreement (FTA) route.
Both countries have signed a memorandum of understanding for cooperation to develop, modernise and expand telecom services and next-gen wireless networks.
Samsung Electronics is yet to comment on the matter. It is the largest 4G vendor in the country in terms of volume, and it is also an exclusive 4G equipment provider to Reliance Jio Infocomm.
However, the government had received information that the equipment was actually made in a non-FTA country and was routed through South Korea or Vietnam. In such a scenario, customs duty is can be levied on the supplied equipment.
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