Indore (Madhya Pradesh): The Customs Department has unearthed evasion of import duty worth Rs 6.66 cr by a factory in Pithampur. An industrialist has been arrested in this connection.
According to official information, following intelligence inputs, the officers of Customs Commissionerate, Indore went to the factory premises of M/S KRM Plastics LLP and their partner’s registered addresses on Tuesday. The factory is located in Pithampur.
During the search, the officials found that Utkarsh Bhave, a partner of S KRM Plastics LLP has fraudulently imported polypropylene (PP) granules under the advance authorisation scheme.
As per the scheme, an importer who imports any item for the purpose of exporting it back after adding value to it gets an exemption in import duty. But in this case, the firm sold the finished goods in the domestic market.
The default duty amount of the fraudulent Import works out to be RS. 6.66,94,879 approximately.
The accused Utkarsh Bhave was arrested under the provisions of Section 104 of the Customs Act, 1962 and presented before the special magistrate economic offences, Indore Sharad Joshi. The magistrate ordered to keep the accused Bhave in judicial custody till 27th September 2023.