Monday, October 3, 2022
HomeDigit NewsXiaomi India's Heavy fine of Rs 653 crore imposed on the company

Xiaomi India’s Heavy fine of Rs 653 crore imposed on the company

Highlights

  • Xiaomi India fined
  • Rs 653 crore fine
  • Alleged evasion of import duty

New Delhi. Chinese company Xiaomi The scales seem to be increasing. The Finance Ministry has announced a fine of Rs 653 crore on Xiaomi’s Indian arm Xiaomi Technology India for evading import duty. Earlier in the report, it was told that both Xiaomi and Oppo have been fined up to Rs 1,000 crore for tax evasion. Now the Union Ministry has made it official.

The government is said to have issued a show cause notice under the provisions of the Customs Act, 1962. This was done after searches were conducted at the company’s premises across the country. It indicated the remittance of royalties and license fees to US and Chinese firms under contractual obligations. Xiaomi India An inquiry was conducted by the Directorate of Revenue Intelligence after receiving inputs about the evasion of customs duty by the

Xiaomi India has not issued any statement regarding this yet. In this investigation, questions have also been raised about the methods of sale of Xiaomi India. In this it has been found that the phones were being made entirely by the contract manufacturer. Then were being sold to Xiaomi India.

This announcement was made by the Finance Ministry and this announcement has been made at a time when Xiaomi India was preparing to launch its first product of this year. Let us know that Xiaomi India has launched its Xiaomi 11i series in the market today. under this series Xiaomi 11i Hypercharge has been launched.

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