According to the report of TheEconomicTimes, Samsung Electronics India has been served a show-cause notice by DRI (Directorate of Revenue Intelligence). The firm has been asked about the pending penalty that should be imposed against the senior management of the company.
Join SFC Nation On Telegram
The Directorate of Revenue Intelligence asked Samsung Electronics why it should not recover the Rs 1,728.47 crore along with interest for alleged customs duty evasion. But Samsung India was giving evasive replies or giving absurd answers during their statements.
Join SFC Nation On Google News
The report further reveals that the issue pertains to the alleged misdeclaration and misclassification of a remote radio head (RRH), a networking device, by Samsung India to avail undue exemption of basic customs duty and interest.
To be mentioned, the Directorate of Revenue Intelligence has also issued the notice to PricewaterhouseCoopers Pvt Ltd (PwC) and asked why the department should not adjust ₹300 crore deposited by SIEL towards payment of differential duty.
The report further states that both the SIEL and PwC have been given 30 days to reply to the notice.
