121 Samsung, the South Korean tech giant, is facing a tax evasion investigation in India. The Directorate of Revenue Intelligence (DRI) has issued a show cause notice to Samsung India, accusing the company of evading taxes worth Rs 1,728.47 crore (approximately $235 million). According to reports, DRI has accused Samsung India Electronics Ltd (SEIL) of misclassifying networking devices, known as remote radio heads, in order to claim undue exemptions on basic customs duty. The DRI has also issued a show cause notice to PricewaterhouseCoopers Pvt Ltd (PwC), a Gurgaon-based business service provider that was reportedly engaged by SEIL for the classification of network equipment. In response to the notice, a Samsung India spokesperson said, “This is a tax dispute involving interpretation of law. We are reviewing the notice and are exploring legal opinion.” Samsung India and the individuals summoned have 30 days to respond to the adjudicating authority. You Might Be Interested In Markel Launches PI and Clarifies Intentions Why Shares of Medical Properties Trust Slumped on Tuesday Biden hopes his Chinese counterpart Jinping attends G20 Summit in India Philips agrees to pay at least $479 million in Apnea-recall accord India To Take Over G20 Group’s Chairmanship Amazon Partners with Affirm for Buy Now, Pay Later Service Targeting Small Business Owners
