Chandrakant 'CK' Isi
23:30 07th Oct, 2012
Indian Customs Slaps Bharti airtel With Rs 700 Crore Penalty For Duty Evasion
Operator allegedly undervalued imported telecom equipment to the tune of Rs 250 crore.
Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ordered Bharti airtel to pay approximately Rs 700 crore for evading customs duty. The Hindu Business Line reports that while importing the telecom equipment, airtel undervalued its cost. In fact, the company claimed that the equipment was being shipped without software to effectively reduce its evaluation. In reality, the hardware was preloaded with the required software, while the software component imported separately was in fact a decoy.
Thankfully, the bright chaps at Bangalore customs unearthed airtel's fraud and booked a case against the Indian telecom giant. To challenge the order, airtel will have to appeal in the Supreme Court. Business Line contacted the company, and here's their official response: "Bharti Airtel is yet to receive a copy of the order". If Bharti loses this case, your phone balance starts reducing, and you start receiving an increased number of calls from fake advocates, you know the reason.
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