Just a moment...

Report
FeedbackReport
×

By creating an account you can:

Logo TaxTMI
>
Feedback/Report an Error
Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

Customs Duty Evasion: Company Caught Manipulating Invoices, Faces Penalties for Deliberate Undervaluation of Import Transactions

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CESTAT upheld duty demands against the appellant for intentional undervaluation of transaction and retail sale prices. The tribunal found deliberate evasion of basic customs duty through submission of fraudulent invoices with artificially lowered values. Evidence from overseas investigations confirmed the appellant obtained two sets of invoices - one for actual transaction and another for customs purposes. The tribunal validated the department's findings of mis-declaration, confirmed the duty demand, upheld goods confiscation under section 111 of Customs Act, and imposed penalties under sections 114A and 112. All appellant appeals were consequently dismissed.....