Mumbai: Man arrested for smuggling 2.7 crore worth watch
The air intelligence unit (AIU) of customs has arrested a Vile Parle resident for smuggling in a watch costing crores.
MUMBAI: The air intelligence unit (AIU) of customs has arrested a Vile Parle resident for smuggling in a watch costing crores.
Kavinkumar Mehta (24) was intercepted by the AIU after he landed in Mumbai from Bangkok. The detectives searched his baggage and found an Astronomia Solar Zodiac, from a limited edition line by American luxury brand Jacob & Co.
The preliminary estimate of the watch is at Rs 1.8 crore. Mehta was arrested for smuggling and was produced before a local court and remanded in judicial custody.
Mehta tried to evade the 38% tax by concealing the watch.
An official said, "It is obvious that this expensive watch has been brought for somebody. We sent it to dealers Rose The Watch Bar later for a proper valuation for the government. After taking into consideration the rupee-dollar exchange rate, and adding to that GST at 18%, the dealers put the value of the watch at Rs 2.7 crore."