The Directorate of Revenue Intelligence (DRI) has arrested a 31-year-old trader from Vashi for allegedly undervaluing the import of 3,630 metric tonnes of inshell walnuts from Chile, leading to Customs duty evasion of over Rs 42 crore.
According to DRI officials, specific intelligence was received indicating that the trader’s firm had been systematically under-invoicing walnut imports. The modus operandi involved submission of forged or manipulated invoices instead of actual invoices issued by the overseas Chilean supplier, thereby concealing the true value of the consignments.
Acting on the tip-off, DRI officers conducted searches at the premises of the import firm. “During the investigation, substantial evidence was uncovered, including a declaration from the Chile-based supplier, which confirmed that the prices declared at the time of import were significantly undervalued,” a DRI source revealed.
The import of inshell walnuts is subject to a 100% Basic Customs Duty (BCD) on the assessable value. However, investigations revealed that the accused consistently undervalued goods by 50% to 70%, resulting in payment of only 30% to 50% of the actual duty owed.
“The import firm evaded more than Rs 42 crore in Customs duty through this method,” the official added. “There is strong suspicion that the differential amount was sent abroad through illegal hawala channels, raising concerns over potential violations of foreign exchange laws.”
Officials also indicated that the accused may not be acting alone. “This appears to be part of a larger nexus within the trade community, where similar practices of undervaluation and under-invoicing might be prevalent,” another officer said. “Further investigation is underway to identify and act against other entities involved in such practices.”
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