Mumbai: The Direvenue Intelligence Directorate (DRI) has confiscated a 100 kg of Cyanide Gold Potassium Cyanide (GPC) consultation worth 32 crore in the air cargo complex here.
Consignment is being exported to Dubai by Mumbai-based companies.
Based on previous intelligence, Dri seized the consignment on Sunday after they received input on the export of a large number of GPCs to Dubai-based entities related to the export company in Mumbai.
GPC is also known as Potassium DicyanoAurate and its main application in metal electrolyte gold coating.
GPC, trying to be exported, incorrectly stated as a product produced from customs free gold imports that Mumbai-based companies are permitted to bring input to the license for advanced permission permission (AA).
“Advance Authorization Scheme is the BEA Liberation Scheme, available under Chapter 4 Foreign Trade Policy (FTP) 2015-2020, where exporters of manufacturers or exporters of traders are bound by supporting manufacturers can bring imported imported goods as physically included in export products , “said DRI statement.
Mumbai-based exporters never made each product export out of the customs free input that it was allowed to import, the statement said, adding “instead, it divert gold-free gold to import to the domestic market with profit, by melting and entering it.” ” Effective, leading to violations ‘actual user conditions’ imposed under the face authorization scheme.
” To fulfill its export obligation under the opposite authorization scheme, the statement said that Mumbai-based exporters would get GPC from a company that was connected based on Gandhinagar, inaccurately claiming it as a product made from imported gold which was brought freely authorization.
“The company connected in Gandhinagar is the opposite in the Solar Power Energy Solutions business, EPC company.
Gandhinagar company, has imported this GPC, in the previous week from Indonesia by claiming the benefits of zero percent concessions available under ASEAN.
India’s free trade agreement (AIFTA ).
“Documentary and other evidence collected so far showed that the GPC exported to Dubai, moved again to Indonesia to be supplied to Mumbai Company through related concerns in Gandhinagar, so that it shows and establishes the order of supply of intentional and forbidden cycles and forbidden and forbidden , The same item, he said.
Estimated Evasion Tasks are Rs 338 Crore, said the statement, adding two individuals, who played a role in controlling and operating this illegal scheme, arrested on July 10 this year and has been sent to long lasting until July 21.
“The problem is further investigated.”