Archive · 29 May 2025
DRI Arrests Two in Mumbai Luxury Furniture Import Tax Evasion Scheme
The Directorate of Revenue Intelligence (DRI) in Mumbai caught two people who were trying to cheat the government by undervaluing luxury furniture they imported.
They brought in expensive furniture but claimed it was worth much less to pay fewer taxes.
The total value of the furniture was about 60 crore rupees, but they declared it was worth only 24 crore rupees.
This allowed them to avoid paying about 20 crore rupees in taxes.
The two people arrested were directors of an import company.
They admitted they knew about the scheme and were involved in hiding the true value of the furniture to make more money.
They manipulated documents and stored the undervalued goods in warehouses.
DRI arrested two directors for undervaluing luxury furniture imports.
The total value of the imports was Rs 60 crore, but declared at Rs 24 crore.
The accused evaded duties worth approximately Rs 20 crore.
The import firm, Design Decode, allegedly undervalued the furniture since September 2021.
The arrested individuals admitted their roles in the undervaluation scheme.
- Who
- DRI arrested Rizwan Iqbal Chunawala and Sajid Hanif Jada.
- What
- Undervaluation of luxury furniture imports and tax evasion.
- When
- Since September 2021.
- Where
- Mumbai, India
- Why
- To evade customs duty, IGST, and Social Welfare Surcharge.
- Investigating Agency
- Directorate of Revenue Intelligence (DRI), Mumbai
- Arrested
- Two directors of Design Decode
- Actual Value of Imports
- Rs 60 crore
- Declared Value of Imports
- Rs 24 crore
- Estimated Duty Evasion
- Rs 20 crore
- Goods Imported
- Luxury furniture
- Import Period
- Since September 2021