Rs 246-crore export and refund scam busted

MUMBAI: The rummaging & intelligence unit of customs busted a pretend export racket of sending inferior goods overseas and stating them ‘handicraft’. Claiming IGST refund and problem, operators of the racket led to the government a loss of Rs 246 crore. The Nhava Sheva preventive unit of customs arrested an exporter-cum-customs-clearing-agent, Vishweshwar Tukaram Gaonkar.

Sources within the customs stated Gaonkar’s job is just the top of the iceberg as many other exporters and customized house agents who worked as syndicate, claiming massive IGST refund and inflicting loss to the exchequer are sought after.

Officials named some export companies, Dunox Trading & Exports, Bijoux Exports, Elantra Exports and Ronera Overseas. They stated the syndicate misdeclared glass bangles as glass circlets that are tagged ‘handicrafts’, to claim IGST refund, problem and its praise.

In containerss at Nhava Sheva, reasonable glass bangles were sent to a NhavaSheva warehouse and given to an agent who inflated their price. Value of glass bangles was once shown Rs 2.five crore a container at time of export. The goods were circled and imported to India appearing their price as between Rs 13 to 15 lakh a container.
Rs 246-crore export and refund scam busted Rs 246-crore export and refund scam busted Reviewed by Kailash on March 09, 2019 Rating: 5
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