Xiaomi India Fined With Rs. 650 Crores ($88 M) Notice for Alleged Tax Evasion β’ The government stated that "Neither Xiaomi India nor its contract manufacturers included the amount of royalty paid by Xiaomi India in the assessable value of the goods imported." β’ The government also claimed that it issued three show-cause notices to Xiaomi India to recoup the hefty amount β’ Xiaomi India was evading customs duty by way of under valuation, an investigation was initiated by DRI β’ Investigation was initiated by the Directorate of Revenue Intelligence β’ Searches led to the recovery of incriminating documents β’ "Statements of key persons of ππ’ππ¨π¦π’ ππ§ππ’π and its contract manufactures were recorded, during which one of the directors of Xiaomi India confirmed the said payments," the Finance Ministry said. ππΈππ·π΅πΈπͺπ ππΎπ» π¦πͺπ΅πΉπ» ππΉπΉ ππΈπ: https://play.google.com/store/apps/details?id=walpr.wallpaper_app ββββββ π πππππ @ππππ‘π€π§π¨π°π₯πππ π_π’π§ ππππππ ππππ πππππππ ββββββ #οΈβ£Tags : #xiaomi #xiaomiindia #miindia #xiaomiredmi #incometax #incometaxindia #tax #evasion #royalty #commerce #fossbytes #financialliteracy #import #taxationlaw #importduty #marketing #economy #drillmusic #raid #indianews #technews #technicalguruji #techfirm #dollar #financenews #taxes #fintech #fintechnews (at Mumbai, Maharashtra) https://www.instagram.com/p/CYbC_pTrqFv/?utm_medium=tumblr
