Xiaomi India Fined With Rs. 650 Crores ($88 M) Notice for Alleged Tax Evasion • The government stated that "Neither Xiaomi India nor its contract manufacturers included the amount of royalty paid by Xiaomi India in the assessable value of the goods imported." • The government also claimed that it issued three show-cause notices to Xiaomi India to recoup the hefty amount • Xiaomi India was evading customs duty by way of under valuation, an investigation was initiated by DRI • Investigation was initiated by the Directorate of Revenue Intelligence • Searches led to the recovery of incriminating documents • "Statements of key persons of 𝐗𝐢𝐚𝐨𝐦𝐢 𝐈𝐧𝐝𝐢𝐚 and its contract manufactures were recorded, during which one of the directors of Xiaomi India confirmed the said payments," the Finance Ministry said. 𝓓𝓸𝔀𝓷𝓵𝓸𝓪𝓭 𝓞𝓾𝓻 𝓦𝓪𝓵𝓹𝓻 𝓐𝓹𝓹 𝓝𝓸𝔀: https://play.google.com/store/apps/details?id=walpr.wallpaper_app ▀▄▀▄▀▄ 𝐅𝐎𝐋𝐋𝐎𝐖 @𝐭𝐞𝐜𝐡𝐤𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞_𝐢𝐧 𝐋𝐀𝐓𝐄𝐒𝐓 𝐓𝐄𝐂𝐇 𝐒𝐓𝐎𝐑𝐈𝐄𝐒 ▄▀▄▀▄▀ #️⃣Tags : #xiaomi #xiaomiindia #miindia #xiaomiredmi #incometax #incometaxindia #tax #evasion #royalty #commerce #fossbytes #financialliteracy #import #taxationlaw #importduty #marketing #economy #drillmusic #raid #indianews #technews #technicalguruji #techfirm #dollar #financenews #taxes #fintech #fintechnews (at Mumbai, Maharashtra) https://www.instagram.com/p/CYbC_pTrqFv/?utm_medium=tumblr
