A total of 34 watches made by prominent foreign brands, including Louis Vuitton, and Rolex were found in the home...
Digital Desk: A man from Kolkata had more than 30 luxury timepieces from prestigious foreign brands recovered from his home. The Directorate of Revenue Intelligence's (DRI) Mumbai zonal unit raided the man's home last week and recovered smuggled watches worth more than Rs 30 crore.
The DRI had been tipped off that someone was living on his property with more than 30 high-end, luxury timepieces from foreign brands. The individual was anticipated to return to India from abroad with other expensive watches that he planned to smuggle into the nation without paying customs tax, according to the information that the DRI had obtained.
The man was stopped at the Kolkata airport last week after arriving from Singapore based on a tip-off, and a highly expensive Greubel Forsey watch that he had not declared to the customs authorities was taken into custody, according to a DRI release.
According to Section 104 of the 1962 Customs Act, the man was detained. The man's residence was also searched by DRI officers.
The house had 34 luxury international brand watches, including Greubel Forsey, Purnell, Louis Vuitton, MB and F, Mad, Rolex, Audemars Piguet, and Richard Mille. The entire market value of all the watches is believed to be more than Rs 30 crores.
"Importation of watches by individuals through baggage attracts 38.5% Customs duties as per Baggage Rules, which was evaded by the said individual," the DRI stated.
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