DRI unearths tax evasion scam, seizes LED TVs worth Rs 12 cr

The Directorate of Revenue Intelligence (DRI) on Wednesday said it has seized LED TVs and panels worth Rs 12 crore for lack of approval from the Bureau of Indian Standards (BIS) and not meeting the Indian Safety standards.

Acting on a specific intelligence that disassembled TVs without designated certificates are being imported as LED TVs in the name of parts and panels, DRI had intercepted two containers and carried out a detailed inspection of each at the Ankleshwar Inland Container Depo in South Gujarat. A release issued by the DRI states it found LED TVs of Samsung and Sony were from Egypt and lacked BIS certification. Those which had the certification did not meet the dates of approval by the BIS.

DRI suspects that it might be a part of a large-scale duty evasion scam as it was not satisfied with the statements of the Raj Traders- Mumbai and Ideal Impex Delhi's owners and managers. The release states that the scam was going on at various ports since long. Once the separate parts of TVs were imported, they were brought to a station and re-assembled and sold in the grey market of India. By false declaration as panels and parts, importers have indulged in tax-evasion, it concluded.

The seizure was conducted in the interest of consumers under the Electronics and Information Technology Goods order 2012, DRI said. The order bans import/manufacturing/sale of electronic goods which are neither tested nor meet the Indian Safety Standards of BIS. Further inquiry into this large scale smuggling racket is underway.