Chinese Smartphone Maker Oppo Alleged For Rs 4,389 Crore Duty Evasion

Revenue officials discovered Rs 4,389 crore in tax evasion by Chinese smartphone producer Oppo through misdeclaration of imports.
Chinese Smartphone Maker Oppo Alleged For Rs 4,389 Crore Duty Evasion
Oppo Alleged For Rs 4,389 Crore Duty Evasion

Revenue officials discovered Rs 4,389 crore in tax evasion by Chinese smartphone producer Oppo through misdeclaration of imports. The Chinese firm specializes in mobile brands such as Oppo, OnePlus, and Realme.

The Directorate of Revenue Intelligence (DRI) discovered Customs duty evasion of around Rs 4,389 crore during an examination of Oppo Mobiles India Private Limited, a subsidiary of Guangdong Oppo Mobile Telecommunications Corporation Ltd - China (Oppo China).

Oppo manufactures and distributes mobile devices and accessories in India

Oppo India is a company that manufactures, assembles, wholesale trades, and distributes mobile devices and accessories in India. It sells mobile phones from manufacturers such as Oppo, OnePlus, and Realme.

The DRI conducted searches at Oppo India's office premises and the residences of its key management employees during the investigation, which resulted in the recovery of incriminating evidence indicating wilful misdeclaration in the description of certain items imported by Oppo India for use in the manufacture of mobile phones.

"Oppo India erroneously claimed ineligible duty exemption benefits of Rs 2,981 crore as a result of this misstatement. Senior management personnel and domestic suppliers of Oppo India, among others, were questioned, and in their voluntary statements admitted the submission of a faulty description to Customs Authorities at the time of import "According to the ministry.

Oppo India had remitted/made preparations for the payment of 'royalty' and 'licensing fee'

The examination further discovered that Oppo India had remitted/made preparations for the payment of 'royalty' and 'licensing fee' to different global firms, including those located in China, in exchange for the use of proprietary technology/brand/IPR license, among other things.

Oppo India's 'royalty' and 'licensing fees' were not included in the transaction value of the items imported by them, in contravention of Customs Act regulations.

Oppo India is accused of evading duty on this account to the tune of Rs 1,408 crore

Oppo India has voluntarily remitted an amount of Rs 450 crore as partial differential Customs duty short paid. "Following the end of the inquiry, a show-cause notice was issued to Oppo India, requesting Customs duty for Rs 4,389 crore. Under the requirements of the Customs Act of 1962, the Notice also suggests applicable penalties for Oppo India, its workers, and Oppo China "According to the Ministry.

On July 8, a show-cause notice was issued.

Chinese Smartphone Maker Oppo Alleged For Rs 4,389 Crore Duty Evasion
Google News Resume Again In Spain After Eight Years Of Shutdown

Related Stories

No stories found.
Since independence
www.sinceindependence.com