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DRI unearths Rs 115 crore 'export incentive' fraud spanning Mumbai, Pune; 2 held
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....RI unearths Rs 115 crore 'export incentive' fraud spanning Mumbai, Pune; 2 held<BR>Customs & Trade<BR>Dated:- 27-8-2025<BR>PTI<BR>Mumbai, Aug 27 (PTI) The Directorate of Revenue Intelligence (DRI) has arrested two persons for a Rs 115 crore fraud involving availment of export incentives by entities without eligibility, officials said on Wednesday. Those arrested were a Mumbai-based individual, du....
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....bbed by the central agency as the "mastermind" of the fraud, and a customs broker The DRI had specific intelligence about a syndicate fraudulently availing duty drawback and RoSCTL benefits by exporting misdeclared and overvalued garments to African countries by using several dummy IECs (importer-exporter codes) from ICD (inland container depot) Talegaon in Pune, an official said. RoSCTL, or reba....
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....te of state and central taxes and levies scheme, serves as a key incentive framework for Indian exporters. Acting on the intelligence, the DRI intercepted two such live consignments, he said. Examination of the consignments revealed misdeclared and inferior quality goods were being exported at grossly inflated values, according to the official. Simultaneous searches were conducted at eight prem....
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....ises in Mumbai, said a DRI statement. Preliminary investigations revealed that 14 IECs, identified so far, were issued in the names of fictitious individuals and were non-existent or bogus, it stated. All export documentation and invoices were prepared by a Mumbai-based mastermind. Crucial digital evidence, including fake invoices, were recovered during searches, it added. In his voluntary stat....
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....ement, the mastermind admitted the syndicate procured low-quality goods from markets in Mumbai, Kolkata, and other cities without invoices or e-way bills, and exported them by overvaluing to the extent of 5 to 6 times their actual value, said the statement. Using this modus operandi, they fraudulently availed drawback benefits of approximately Rs 18.74 crore and RoSCTL benefits of about Rs 96 cro....
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....re - totalling Rs 114.74 crore -- it said. The mastermind, who has orchestrated the whole scheme, was arrested along with a customs broker, who was a complicit in the fraud and received commission for processing such exports, it stated further. Further investigation in the fraud was underway. Duty drawback is a government scheme formulated to refund duties and taxes paid on imported inputs used....
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.... in the production of exported goods. PTI DC RSY<BR> News - Press release - PIB....