TMI BlogLarge scale misuse of Drawback Scheme on exports of cotton knitted garments through ICDs in Tamil Nadu by willful and gross over-invoicing and manipulation of documents by dubious exporters of garments - Circulation of modus operandi adopted - regardingX X X X Extracts X X X X X X X X Extracts X X X X ..... 03 F.No.609/133 /2003-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise Customs Sub: Large scale misuse of Drawback Scheme on exports of cotton knitted garments through ICDs in Tamil Nadu by willful and gross over-invoicing and manipulation of documents by dubious exporters of garments - Circulation of mod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... factories and they were only merchant exporters. The fraudsters obtained I.E. Code, got PAN No. and opened bank accounts in the name of front persons. They arranged purchase orders/contract for the exports of garments at exorbitant value and the exports were always made to non-quota countries like Singapore, Dubai and African countries. The purchase or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r value had been accepted at the time of assessment, examination and stuffing of the goods. Also, on occasions, subsequent to the detention of the cargo at the Gateway Ports, the f.o.b. value declared on the Shipping bills were revised downwards in order to reflect a far lower f.o.b. value for claiming drawback. Endorsements to this effect were made on all the copi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emittances. These exporters do not maintain any books of accounts for purchase/sale, etc. in spite of huge volume of trade both in domestic purchase as well as exports. Also, such exporters open their accounts in foreign banks and private sector banks and withdraw money mainly in the form of cash while the deposits are through drawback cheques . This is owing to the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
