Mumbai: The Mumbai zonal unit of the Directorate of Revenue Intelligence (DRI) has seized smuggled foreign made watches worth more than Rs 30 crore. The watches were seized from the residence of a Kolkata-based man.
After getting specific information, DRI officials intercepted the accused intercepted at the Kolkata airport last week after he arrived from Singapore. They also seized a very expensive Greubel Forsey watch which he had not declared before the customs authorities. The officials then searched his residence and seized 34 premium foreign watches including Greubel Forsey, Purnell, Louis Vuitton, MB and F, Mad, Rolex, Audemars Piguet and Richard Mille. The accused was arrested under section 104 of the Customs Act, 1962, for duty evasion.
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The officials informed that most of these were limited edition watches with a total market value of more than Rs 30 crore. Import of watches by individuals through the baggage attracts 38.5% of customs duties.
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