Indian Customs Slaps Bharti airtel With Rs 700 Crore Penalty For Duty Evasion

socrates

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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.

Indian Customs Slaps Bharti airtel With Rs 700 Crore Penalty For Duty Evasion | TechTree.com :disgust:
 

Humanoid

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Karma at it's finest.
 


Bobbyguitarist

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In reality, the hardware was preloaded with the required software, while the software component imported separately was in fact a decoy.

lol
 

Toocool

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nope.....karma at its best would be minimum penalties worth 10000 crores to 20000 crores , by different agencies or departments . 700 cr are chillar for them:haha:
 


Bobbyguitarist

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nope.....karma at its best would be minimum penalties worth 10000 crores to 20000 crores , by different agencies or departments . 700 cr are chillar for them:haha:
They are already cash strapped bcoz of their expansion plans in Africa ..

Even then 700cr is a big amount for anybody
 

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^^

They were one of the 1930 applicants to apply for .airtel domain by paying $185000 . And they can recover this 700 cr in a single day. Their Subscriber base is 232 million. So , Re 1 or 2 deduction from all and 700 cr will be recovered ;)
 

smokein

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There goes the slightest chance of getting 1 gbps line from bharti to our IIT for free :/
 

Bobbyguitarist

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There goes the slightest chance of getting 1 gbps line from bharti to our IIT for free :/
Thats related to telecom arm of airtel. you're talking about broadband arm of airtel
 
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