Business Standard

Tuesday, December 24, 2024 | 02:49 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Reviewing govt's show cause notice on tax evasion, says Samsung India

DRI sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty

Samsung

Samsung

Reuters Bengaluru

Samsung Electronics' Indian unit is reviewing a government notice related to a tax dispute, it said on Thursday, after a media report said a domestic agency accused the company of evading import duties worth 17.28 billion rupees ($212 million).

The Economic Times reported that India's Directorate of Revenue Intelligence (DRI) sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty.

"This is a tax dispute involving interpretation of law. We are reviewing the notice and are exploring legal opinion," a Samsung India spokesperson said in an email, but did not give further details, including on specifics about the tax dispute.

 

Besides the Indian unit of South Korea-based Samsung, the DRI had also sent a show cause notice to PwC, which was hired to classify the network equipment, the report said.

PwC and India's finance ministry did not immediately respond to Reuters' request for comment.

($1 = 81.6300 Indian rupees)

(Reporting by Anuran Sadhu and Chris Thomas in Bengaluru; Editing by Savio D'Souza)


 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 12 2023 | 1:27 PM IST

Explore News Home