Xiaomi Technology India Pvt Ltd evaded customs duty of Rs 653 crore: Finance ministry

The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand. An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contract manufacturers. During the investigation, searches were conducted at the premises of Xiaomi India, which led to the recovery of incriminating documents indicating that Xiaomi India was remitting royalt...