{"id":1241562,"date":"2023-01-13T08:30:28","date_gmt":"2023-01-13T03:00:28","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1241562"},"modified":"2023-01-13T08:31:06","modified_gmt":"2023-01-13T03:01:06","slug":"samsung-didnt-pay-rs-1728-crore-excise-duty-to-indian-govt-show-cause-notice-issued","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/samsung-didnt-pay-rs-1728-crore-excise-duty-to-indian-govt-show-cause-notice-issued\/","title":{"rendered":"Samsung Didn&#8217;t Pay Rs 1728 Crore Excise Duty To Indian Govt? Show Cause Notice Issued"},"content":{"rendered":"\n<p>The Directorate of Revenue Intelligence (DRI) has issued a show cause notice to Samsung India Electronics (SIEL).<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Untitled-design-59.jpeg\" alt=\"Samsung Didn't Pay Rs 1728 Crore Excise Duty To Indian Govt? Show Cause Notice Issued\" class=\"wp-image-1241570\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Untitled-design-59.jpeg 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Untitled-design-59-300x140.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Untitled-design-59-768x357.jpeg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<p>The agency has asked the company why it should not recover the Rs 1,728.47 crore along with interest for alleged customs duty evasion.<\/p>\n\n\n\n<p>The notice was issued by Nhava Sheva Customs earlier this week.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What happened?<\/strong><\/h2>\n\n\n\n<p>The trouble has to do with alleged misdeclaration and misclassification of remote radio head (RRH), a networking device, by Samsung India to avail undue exemption of basic customs duty.<\/p>\n\n\n\n<p>SIEL had hired PwC for classification of the network equipment, which is under scanner.<\/p>\n\n\n\n<p>The DRI, in the notice, has also asked why a penalty should not be imposed against the senior management of the company.<\/p>\n\n\n\n<p>Apparently it also issued the notice to PricewaterhouseCoopers Pvt Ltd (PwC) and an associate director, who was questioned during the probe.<\/p>\n\n\n\n<p>SIEL, PwC have 30 days to reply to the same.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Confiscation<\/strong><\/h2>\n\n\n\n<p>In its notice the DRI has asked precisely why SIEL, &#8220;the impugned goods, having total accessible value of Rs 6,72,821 crore, imported under the bills of entry should not be held liable for confiscation under the provisions of section 111 (m) of the Customs Act, 1962&#8221;.<\/p>\n\n\n\n<p>It further questioned why the &#8220;differential duty (of) Rs 1,728.47 crore in respect of the bills of entry should not be demanded and recovered from them under the provisions of section 28 (4) of the Customs Act, along with interest at the applicable rate&#8221; should not be applicable.<\/p>\n\n\n\n<p>The agency <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/samsung-india-served-show-cause-notice-by-dri-report-9852191.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">continued <\/a>with its interrogation, asking why it should not adjust the Rs 300 crore deposited by SIEL towards payment of differential duty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Directorate of Revenue Intelligence (DRI) has issued a show cause notice to Samsung India Electronics (SIEL). Context The agency has asked the company why it should not recover the Rs 1,728.47 crore along with interest for alleged customs duty evasion. The notice was issued by Nhava Sheva Customs earlier this week. What happened? The [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1241570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[538,212],"class_list":["post-1241562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-excise-duty","tag-samsung"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Samsung Didn&#039;t Pay Rs 1728 Crore Excise Duty To Indian Govt? 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