Surat: The Directorate of Revenue Intelligence's (DRI) Surat wing has unearthed huge undervaluation of import of Chinese handbags, school bags and trolleys by three Mumbai-based firms. The estimated evasion of customs duty is estimated at Rs5 crore.Official sources said that based on specific information, the DRI officials from Surat conducted simultaneous searches at the premises of three companies in Mumbai namely M/s Plastic Cottage trading, M/s Winsor enterprises and M/s Bhaijaan stores, located at Churchgate in Mumbai on April 11.These three companies were importing ladies handbags, school bags and trolley bags and PVC fabrics from China and clearing the same at highly undervalued rates. During searches, evidences of actual prices were retrieved which indicated huge undervaluation in different types of bags.However, a live consignment of trolley bags and dufle bags of the importer was examined at Nhava-Sheva port and undervaluation was detected in the prices declared before customs. The importers have admitted to resorting to undervaluation in imports from China.Official sources said the evidences are being analysed to compute the actual extent and magnitude of undervaluation. The estimated duty evasion prima facie appears to be around Rs 5 crore. The investigation of the case is in progress, DRI officials said.

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