INDIA
Consignment detained by DRI belongs to Chemoil-Adani.
The Directorate of Revenue Intelligence (DRI) reportedly detained a major consignment of marine gas oil belonging to Chemoil-Adani on Thursday. The consignment worth Rs61 crore was imported through Mundra port in the guise of high speed diesel in order to evade customs duty.
The duty evasion is said to be to the tune of Rs12-13 crore but there are two similar consignments which may also get detained once the investigation is through. The consignments together cost around Rs183 crore on which customs duty to the tune of Rs40 crore may be levied.
Highly-placed sources in the central agency said the importer had declared the consignment as high speed diesel on which only 2.5% customs duty is levied.Based on information received, DRI officials detained the consignment and found that there was marine fuel instead of high speed diesel. Sources said that the import duty on marine fuel is 26% and this is why importers tend to smuggle it in the guise of normal fuel.
The case is said to be the first-of-its-kind detection but the modus operandi is spread across the country. "We have received information about importers evading customs duty by using similar modus operandi across the nation since the difference in duty on high speed diesel and marine fuel is huge," sources said.
Sources said marine gas oil, mainly used in marine vessels is different from high speed diesel. According to Bureau of Indian Standards (BIS), marine gas oil's composition is different from high speed diesel, sources said. Sources added that DRI officials have sent the sample of fuel for laboratory testing to verify the facts as part of their investigation.
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