Now, it will be difficult for high-flying corporate honchos to evade duties on their private jets using loopholes in customs rules. The government, through a notification, has reduced the timeframe for a foreign registered private aircraft to operate in India from six months to 60 days.
Earlier, corporate houses used this loophole in the rule. They would register their private jets abroad through their subsidiaries and operate them back home, while evading customs duties in crores of rupees.
Last year, the Directorate of Revenue Intelligence (DRI) had launched investigations against over a dozen corporate houses for allegedly evading duties. The UB Group's Boeing 727, DS Constructions' Embraer 135, Alchemist Group's , Taj Group's , Sandesara Group's and Punj Lloyd's Gulfstream jets, Essar's Boeing 737 and Hawker Pacific 850 Exp and Bharat Hotel's Embraer Legacy 600 are some of the aircraft that are under scrutiny.
While most of the companies under probe said they have been complying with existing rules, the DRI fined Bharat Hotels Rs 16 crore as cumulative of taxes and penalty . Sources said the company has paid the amount.
DRI alleged that the company imported its aircraft in 2009 and had been operating it in India without paying duties by seeking extensions of stay after every 15 days.
18/04/12 Economic Times
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