Wednesday, May 18, 2005
Wednesday, May 18, 2005 |
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Thiruvananthapuram
Staff Reporter
THIRUVANANTHAPURAM: The Directorate of Revenue Intelligence (DRI) has seized a consignment of conveyor and transmission belts valued at Rs. 50 lakhs from the Air Cargo Complex at the International Airport here. The DRI has accused the importer of falsely declaring the goods as cheap rubber belts used in sewing machines. An official said the importer had produced a fake invoice to show that the goods were worth only Rs. 40,000. The DRI has booked the importer on the charge of violating the Customs Act. An official said the belts were meant for certain big industrial houses in Maharashtra. Recently, local manufacturers of conveyor belts had complained that the domestic market was being flooded with foreign products that were sold at rates less than the maximum retail price of comparable Indian products. The Director General, DRI, A. P. Sudheer, had ordered a nationwide alert against the illegal import of conveyor and transmission belts. The consignment that originated in Japan had been imported from Singapore to India through the Chennai airport. The DRI suspects that the hawala route was used for compensating the exporter in Singapore who deliberately underpriced the goods to help the importer in India avoid paying Customs and Central Excise Duty. The bank accounts of the importer and his financial transactions with a trading firm in Mumbai are being verified.
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