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Reviewing Govt's Show Cause Notice On Tax Evasion, Says Samsung India
DRI sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty
Topics
Samsung India | tax evasion
Samsung Electronics' Indian unit is reviewing a government notice related to a tax dispute, it said on Thursday, after a media report said a domestic agency accused the company of evading import duties worth 17.28 billion rupees ($212 million).
The Economic Times reported that India's Directorate of Revenue Intelligence (DRI) sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty.
"This is a tax dispute involving interpretation of law. We are reviewing the notice and are exploring legal opinion," a Samsung India spokesperson said in an email, but did not give further details, including on specifics about the tax dispute.
Besides the Indian unit of South Korea-based Samsung, the DRI had also sent a show cause notice to PwC, which was hired to classify the network equipment, the report said.
PwC and India's finance ministry did not immediately respond to Reuters' request for comment.
($1 = 81.6300 Indian rupees)
(Reporting by Anuran Sadhu and Chris Thomas in Bengaluru; Editing by Savio D'Souza)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, January 12 2023. 13:27 IST
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