Luxury furniture import fraud uncovered, Rs 30 crore customs duty evaded using fake invoices and shell companies under Customs Act

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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.........