Highlights
Notices sent to Oppo, Vivo and Xiaomi on suspicion of tax evasion.
Finance Minister Nirmala Sitharaman gave this information in the Rajya Sabha on Tuesday.
Vivo sent a lot of money outside India through 18 companies.
New Delhi. Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday that the government is investigating cases of alleged tax evasion by three Chinese mobile phone companies. He said that notices have been issued to all the three companies in this regard. He said that these three companies are Oppo, Vivo India and Xiaomi.
The Finance Minister said that the Department of Revenue Intelligence (DRI) has issued a notice to mobile phone company Oppo for a total customs duty of Rs 4,389 crore. He said that the company has not given correct information about some items due to which the payment has been reduced. According to the Finance Minister, according to an estimate, there has been a fraud of about 2,981 crores.
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Tax evasion of Rs 1408 crore
The Finance Minister said, “The value of imported products was understated at the time of payment of customs duty. From this we feel that there has been tax evasion of Rs 1,408 crore.” He said, “They have come forward to deposit Rs 450 crore voluntarily, which is much less than the demand of Rs 4,389 crore.”
3 notices to Xiaomi
Referring to the second company Xiaomi in this matter, he said that it is related to the ‘assembled’ Mi mobile phone. The Union Minister said, “Three show cause notices have been issued to him and he has a customs duty liability of about Rs 653 crore. Only Rs 46 lakh has been deposited on the three show cause notices issued by him.”
2,217 crore demand notice issued to Vivo
Finance Minister Sitharaman said that the third company is Vivo India. The company has been issued a ‘demand notice’ of Rs 2,217 crore and has voluntarily deposited Rs 60 crore. Apart from these, the Enforcement Directorate (ED) is also looking at 18 companies that were set up by the same group Vivo, he said. The Finance Minister said that out of the total sale of Rs 1.25 lakh crore in India, Vivo has sent a large part outside the country through these 18 companies. Significantly, these companies are being investigated by central agencies like ED, Income Tax Department and DRI.
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Tags: Business news in hindi, Finance Minister Nirmala Sitharaman, Oppo, Vivo, Xiaomi Redmi
FIRST PUBLISHED : August 02, 2022, 20:38 IST
