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regular-article-logo Friday, 22 November 2024

Oppo unit slapped with notice over import duty evasion

Move after recovery of documents during searches on its premises that indicated wilful misdeclaration in the description of some imports and remittance of royalty and license fees

PTI New Delhi Published 14.07.22, 01:51 AM
Reacting to the development, Oppo India said it has a “different view” on the charg es mentioned in SCN and will take appropriate steps, including legal remedies.

Reacting to the development, Oppo India said it has a “different view” on the charg es mentioned in SCN and will take appropriate steps, including legal remedies. Representational picture

Chinese phone maker Oppo’s India unit has been slapped with a notice for alleged Rs 4,389 crore import duty evasion, the finance ministry said on Wednesday.

A show-cause notice (SCN) has been slapped on Oppo India on July 8 after the recovery of documents during searches on its premises that indicated wilful misdeclaration in the description of some imports and remittance of royalty and license fees to various MNCs, including those based in China.

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During an investigation of Oppo Mobiles India Pvt Ltd, a subsidiary of Guangdong Oppo Mobile Telecommunications Corporation Ltd, the directorate of revenue intelligence (DRI) has detected customs duty evasion of around Rs 4,389 crore, the ministry said in a statement.

Reacting to the development, Oppo India said it has a “different view” on the charg es mentioned in SCN and will take appropriate steps, including legal remedies. “We have a different view on the charges mentioned in the SCN.

We believe it’s an industry-wide issue many corporates are working on. “Oppo India is reviewing the SCN received from DRI, and we are going to reply to the notice, presenting our side, and will be working further with the related government departments.

“Oppo India is a responsible corporate and believes in the prudent corporate governance framework. “Oppo India will take appropriate steps as may be needed in this regard including any remedies provided under the law,” Oppo said in an email response.

Vivo accounts

The Delhi High Court Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe, subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency.

Justice Yashwant Varma directed Vivo to give details to the enforcement directorate about its remittances and issued notice to the investigating agency on Vivo’s plea seeking quashing of the order to freeze its accounts.

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