Hero Electric under DRI lens for evading customs duty worth Rs 330 crore
Hero Electric is under the lens of the Department of Revenue Intelligence (DRI) for allegedly evading customs duty worth Rs 330 crore. According to a CNBC TV18 report by, the company imported fully assembled e-scooters and declared them as automobile parts. The government has stopped providing subsidies to the company under the FAME scheme.
The DRI in December 2020 issued a show cause notice to the company for evading tax. The company imported e-scooters and e-bikes between 2009 and 2014 and later between 2017 and 2019.
Hero Electric has paid no fines or duties, the report added.
The show cause notice says that the company committed “fraud intentionally” after “proper planning.” It added that the DRI would like to recover the company’s dues worth Rs 330 crore.
