Xiaomi India under investigation for evading custom duty worth Rs 653 crore
India Today
The Directorate of Revenue Intelligence (DRI has reportedly issued a show-cause notice to mobile handset manufacturer Xiaomi India for evading custom duty worth Rs 653 crore.
The Directorate of Revenue Intelligence (DRI has reportedly issued a show-cause notice to mobile handset manufacturer Xiaomi India for evading custom duty worth Rs 653 crore. The revenue department had received intelligence that Xiaomi India was evading customs duty by way of undervaluation, after which an investigation in the matter was initiated.
During the investigation, searches were conducted by the DRI at the premises of Xiaomi India. The department has reportedly recovered documents which indicate that Xiaomi India was remitting royalty and licence fee to Qualcomm USA and to Beijing Xiaomi Mobile Software Co Ltd, under contractual obligation.
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