DRI uncovers illegal use of SAFTA agreement in arecanut imports to India
The Directorate of Revenue Intelligence has dismantled a smuggling network that illegally imported arecanut from South-East Asia by mislabeling it as Bangladeshi origin to avoid customs duties. The fraud resulted in an estimated revenue loss of over ₹2,500 crore.
The Directorate of Revenue Intelligence (DRI), in a month-long intelligence-led operation, has dismantled a major network involved in importing arecanut from South-East Asian countries to India, falsely declaring it as being of Bangladeshi origin, and fraudulently availing concessional duty benefits under the South Asian Free Trade Area (SAFTA) agreement. The investigation has so far revealed a potential revenue loss of more than ₹2,500 crore. Nine persons have been arrested in connection with the case, according to the Union Ministry of Finance.
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