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City Billionaires Evade Tax On Illegally Imported Cars
Mumbai mafia imports cars from foreign countries and sends them to Manipur. In Manipur, these luxury cars get registered at the local RTA
G
Guru Prasad
Hyderabad
Thu Jul 22 2021
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City Billionaires Evade Tax On Illegally Imported Cars
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DRI, the Directorate of Revenue Intelligence, is probing into the details of billionaires based out in the city for their involvement in luxury cars scam. It's a known fact that billionaires love to own and travel in high-end luxury cars. But in India, many such luxury brands are not available. So these ultra-rich people buy the cars through third parties. There's a glitch, though; they need to pay huge taxes imposed in high percent. To avoid paying such huge taxes, these billionaires resort to playing some tricks. The government has exempted the foreign ambassadors from paying tax while importing these high-end cars and taking benefit from this; a Mumbai-based mafia is carrying out this illegal business. 


This Mumbai mafia imports cars from foreign countries and sends them to Manipur. In Manipur, these luxury cars get registered at the local RTA under the name of some foreign ambassador, and from there, they end up at billionaires' residences. 


Reportedly, around 20 such luxury cars in the last one years were imported, and a majority of them are said to be roaming on the Hyderabad roads. There are several complaints on tax evasion in buying luxury cars, and hence the DRI has entered the scene now. They are digging up the details of billionaires who bought or owned luxury cars in the last 12 months. If anyone is found guilty of evading the taxes, the car might be seized by the DRI, or a heavy penalty might be imposed.



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City Billionaires Evade Tax On Illegally Imported Cars
City Billionaires Evade Tax On Illegally Imported Cars
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