GOVERNMENT OF INDIA
DIRECTORATE OF REVENUE INTELLIGENCE
KOLKATA ZONAL UNIT
8, Ho Chi-Minh Sarani, Kolkata- 700071
Telephone:- (033)-2282 3321, Fax:- (033)-2282 4465
______________________________________

Press release

MISUSE OF DUTY FREE CREDIT ENTITLEMENT CERTIFICATE AND TARGET PLUS SCHEME BY M/S. CALCUTTA SEA FOODS

On the basis of specific intelligence that M/s. Calcutta Sea Foods has imported HDPE granules and PP granules film grade without payment of duty under Duty Free Credit Entitlement Certificate and Target Plus Scheme availing exemption under Notification No. 54/2003-Cus dated 01.04.2003 and 32/2005-Cus dated 08.04.2005 respectively during 2009-10 and 2010-11 and sold these materials in the market. As per the condition of the aforesaid two notifications the imported goods cannot be sold or transferred. Consequently, searches were undertaken on 09.03.2011 in the offices of the above firm and some incriminating documents were seized. On preliminary investigation, it revealed that M/s Pekon Electronics Ltd, Kolkata, a Central Excise Registration holder having factory at Dankuni, Hooghly, W.B is engaged in importing of HDPE and PP granules.
They got the Bills of Entry filed by M/s. Calcutta Sea Foods (licence holder) under the duty free Scheme showing transfer/sale of those import consignments on high sea sale basis to the said firm i.e. M/s. Calcutta Sea Foods . The duty foregone on account of duty free import is about Rs. 1.78 crore. The importer has admitted the aforesaid fact of duty foregone and deposited the entire duty of Rs. 1.78 crore. Further investigation is going on.

Sd/15.03.2011
(VASA SESHAGIRI RAO, IRS)
ADDITIONAL DIRECTOR GENERAL