https://www.taxtmi.com/highlights?id=90860 The Directorate of Revenue Intelligence uncovered a large-scale fraud involving undervaluation and misdeclaration in the import of luxury furniture, resulting in an estimated customs duty evasion of around Rs 30 crore. The scheme involved a network using dummy importers, local intermediaries, overseas shell companies, and fabricated invoices to declare branded luxury furniture as unbranded at significantly undervalued prices. Goods were shipped directly from European suppliers but invoiced through shell entities in jurisdictions like Dubai and Singapore. After customs clearance under false declarations, the furniture was transferred on paper to the actual beneficial owner, a prominent national luxury furniture brand, via intermediaries. Thr..... en-us Thu, 24 Jul 2025 15:15:39 +0530 Thu, 24 Jul 2025 15:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=90860 The Directorate of Revenue Intelligence uncovered a large-scale fraud involving undervaluation and misdeclaration in the import of luxury furniture, resulting in an estimated customs duty evasion of around Rs 30 crore. The scheme involved a network using dummy importers, local intermediaries, overseas shell companies, and fabricated invoices to declare branded luxury furniture as unbranded at significantly undervalued prices. Goods were shipped directly from European suppliers but invoiced through shell entities in jurisdictions like Dubai and Singapore. After customs clearance under false declarations, the furniture was transferred on paper to the actual beneficial owner, a prominent national luxury furniture brand, via intermediaries. Thr..... Highlights Indian Laws Thu, 24 Jul 2025 15:15:39 +0530 https://www.taxtmi.com/highlights?id=90860