The Directorate of Revenue Intelligence (DRI) has detected undervaluation of liquor imported by four companies, including Pernod Ricard India and Diageo India, during the last two financial years, Finance Ministry said today.
The DRI detected undervaluation of liquor imported by Pernod Ricard India Pvt Ltd (Rs 140 crore undervaluation), Diageo India Pvt Ltd (Rs 47 crore) and Angus Dundee India Pvt Ltd (Rs 75 lakh) during 2014-15.
In 2013-14, DRI detected undervaluation in import by William Grant and Sons. The undervaluation was Rs 60 lakh.
This was stated by Minister of State for Finance Jayant Sinha in a written reply.
In 2014-15, total liquor imported into the country was valued at Rs 1,788 crore and Rs 1,524.82 crore in the previous fiscal.
Sinha also informed that DRI is investigating a case of over-invoicing of coal imported from Indonesia involving a number of Indian companies.
"The investigation is in preliminary stage and it would be premature to quantify the exact amount involved therein," he added.
The Minister further said all customs field formations including DRI have been sensitized on the issue so that such incidences of over valuation/undervaluation are prevented.
Total coal imported into the country was valued at Rs 56,121.92 crore and Rs 65,407.49 crore during 2014-15 and 2013-14, respectively.
