Five arrested in duty-evasion racket amounting to Rs26 crore in Mumbai
The Central Intelligence Unit at Air Cargo Complex (ACC) in Andheri on Monday arrested five people for allegedly evading customs duty payment of Rs26 crore. According to the police, they were looking to smuggle mobile phones and accessories into the country. The five accused include custom brokers and importers.
Custom brokers are agents for an importer or exporter who are paid brokerage for clearing goods through customs. “Gross mis-declaration has been resorted to evade payment of customs duty. The description of the declared goods was vague so as to undervalue the consignment. Most of the goods were branded products,” said Atul Saxena, additional commissioner, ACC. Certain entities registered in Hong Kong, China and Chinese Taipei are suppliers for most of the consignments of mobile accessories.
Related Posts
The Counterfeiting Conundrum: How Technology Will Slam the Scam
Counterfeiting is a high-margin $654 billion growth industry largely run by...
Tracking terror money
During the past few decades, intelligence and law-enforcement agencies around the...
Cornwall cops could lay new criminal charges on smugglers
An anti-contraband tobacco official says new legislation should beef up police...
Anti-counterfeiting: customs brand registration
The global trade in counterfeit goods has reached staggering proportions, growing...