A man from Kolkata had more than 30 luxury watches from prestigious foreign brands recovered from his home. The Directorate of Revenue Intelligence’s (DRI) Mumbai zonal unit raided the man’s home last week and recovered smuggled watches worth more than Rs 30 crore.
The DRI had been tipped off that someone was living on his property with more than 30 high-end, luxury watches from foreign brands. The individual was anticipated to return to India from abroad with other expensive watches that he planned to smuggle into the nation without paying customs tax, according to the information that the DRI had obtained.
The man was stopped at the Kolkata airport last week after arriving from Singapore on the basis of a tip-off, and a highly expensive Greubel Forsey watch that he had not declared to the customs authorities was taken into custody, according to a DRI release.
The man was detained in accordance with Section 104 of the 1962 Customs Act. Additionally, the DRI police searched the man’s home.
From the home, authorities retrieved up to 34 watches from high-end foreign brands as Greubel Forsey, Purnell, Louis Vuitton, MB & F, Mad, Rolex, Audemars Piguet, and Richard Mille. More than Rs 30 crores is thought to be the combined market worth of all the watches.
‘Import of watches by individuals through the baggage attracts 38.5 % of Customs duties as per Baggage Rules, which was evaded by the said individual,’ the DRI said.
Post Your Comments