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Samsung Questions India's $520 Million Tax Order, Points Finger At Reliance
Samsung has asked an Indian tribunal to quash a $520 million tax demand for allegedly misclassifying imports of networking gear, arguing officials were aware of the practice as India's Reliance imported the same component in a similar manner.
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Samsung Ordered to Pay $601 Million in Back Taxes in India, Penalties Over Telecom Imports
India has ordered Samsung to pay $601 million (roughly Rs. 5,149 crore) in back taxes and penalties for dodging import tariffs. The Samsung investigation began in 2021 when tax inspectors searched its offices in the financial capital of Mumbai and Gurugram near New Delhi, seizing documents, emails and some electronic devices.
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Revenue Agency Accuses Samsung Of Evading $212 Million In Import Taxes: Report
The Directorate of Revenue Intelligence (DRI) said Samsung India Electronics Ltd misclassified networking devices called remote radio heads to avail undue exemption of basic customs duty, the Economic Times reported.
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Samsung India's Revenue Up 10 Percent in FY22, Highest in Last 5 Years: Tofler
Samsung India Electronics' profit after tax for FY22 fell 4.86 percent to Rs. 3,844.40 crore, while its revenue from operations went up 8.65 percent to Rs. 82,451.60 crore, said data accessed by business intelligence platform Tofler. The electronic major had reported a PAT (profit after tax) of Rs. 4,040.80 crore and its revenue from operations wa...
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Samsung India Sees Profit Fall By 5% To Rs 3,844 Crore
Samsung India Electronics' profit after tax for FY22 fell 4.86 per cent to Rs 3,844.40 crore, while its revenue from operations went up 8.65 per cent to Rs 82,451.60 crore, said data accessed by business intelligence platform Tofler.
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Government Said to Seek Ouster of Chinese Firms From Affordable Smartphone Market
The government is said to be seeking to restrict the sale of smartphones from companies including Xiaomi in the country. Brands like Oppo, Vivo, and Xiaomi are facing tax demands and money laundering allegations, after a close scrutiny of their finances, while companies like WeChat, TikTok and PUBG Mobile have been banned in the country over securi...
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India Investment Body Backs Incentives for Samsung Display Plant in Uttar Pradesh
Samsung Electronics should get tax and other incentives from Uttar Pradesh as the South Korean company looks to invest some Rs. 5,367 crores ($705.75 million) in a smartphone display manufacturing plant in the state, India's lead investment promotion body said in a letter.
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Samsung Galaxy A50s Price in India Cut, Now Starts at Rs. 18,599
Samsung Galaxy A50s price in India has been cut, making it cheaper by Rs. 2471 for the base variant. The smartphone can now be purchased at a starting price of Rs. 18,599. This comes after the price of the phone had been increased by Samsung owing to an increase in tax rates in India.
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Samsung Galaxy M21 Price in India Cut, Now Starts at Rs. 12,699
Samung Galaxy M21 has received a price cut from the company. The price of the phone now starts at Rs. 12,699 in the country. The phone had reportedly received a price hike due to the increase in tax on mobile phones from 12 percent to 18 percent.
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Government Scraps Import Tax on Open Cell Panels in Boost for TV Makers
India has scrapped a tax on imports of open cell TV panels, used to make television displays, in a move likely to boost television manufacturing in the country.
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Samsung Rapped For Not Passing GST Benefits To Consumers: Report
In December, the GST Council reduced the tax rate on televisions with screen sizes of up to 32 inches to 18 per cent from 28 per cent, which came into effect on January 1, 2019.
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Samsung Users in India Can Now Check Prices of Their Phone’s Spare Parts Online
Samsung now lists the prices of spare parts of its main smartphones online in India.
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India Said to Defer Plan to Tax Mobile Touch Panel Imports
India has deferred a plan to tax imports of touch panels, three sources told Reuters, after smartphone makers such as Samsung asked.
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Flipkart Sale, Samsung Galaxy S9 Renders, Facebook Advertisers on WhatsApp, and More: Your 360 Daily
Flipkart New Pinch Sale starts, Samsung Galaxy S9 renders leaked, Facebook advertisers get WhatsApp access, and more.
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BSNL's New Plans, Samsung Galaxy S8 Launch Date Rumours, Siri Learns Cricket, and More: Your 360 Daily
Samsung Galaxy S8 launch date leaked, Reliance Jio India's primary mobile data provider, Apple's 'Make in India' demands and more in today's 360 Daily.
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Samsung Questions India's $520 Million Tax Order, Points Finger At Reliance
Samsung has asked an Indian tribunal to quash a $520 million tax demand for allegedly misclassifying imports of networking gear, arguing officials were aware of the practice as India's Reliance imported the same component in a similar manner.
-
Samsung Ordered to Pay $601 Million in Back Taxes in India, Penalties Over Telecom Imports
India has ordered Samsung to pay $601 million (roughly Rs. 5,149 crore) in back taxes and penalties for dodging import tariffs. The Samsung investigation began in 2021 when tax inspectors searched its offices in the financial capital of Mumbai and Gurugram near New Delhi, seizing documents, emails and some electronic devices.
-
Revenue Agency Accuses Samsung Of Evading $212 Million In Import Taxes: Report
The Directorate of Revenue Intelligence (DRI) said Samsung India Electronics Ltd misclassified networking devices called remote radio heads to avail undue exemption of basic customs duty, the Economic Times reported.
-
Samsung India's Revenue Up 10 Percent in FY22, Highest in Last 5 Years: Tofler
Samsung India Electronics' profit after tax for FY22 fell 4.86 percent to Rs. 3,844.40 crore, while its revenue from operations went up 8.65 percent to Rs. 82,451.60 crore, said data accessed by business intelligence platform Tofler. The electronic major had reported a PAT (profit after tax) of Rs. 4,040.80 crore and its revenue from operations wa...
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Samsung India Sees Profit Fall By 5% To Rs 3,844 Crore
Samsung India Electronics' profit after tax for FY22 fell 4.86 per cent to Rs 3,844.40 crore, while its revenue from operations went up 8.65 per cent to Rs 82,451.60 crore, said data accessed by business intelligence platform Tofler.
-
Government Said to Seek Ouster of Chinese Firms From Affordable Smartphone Market
The government is said to be seeking to restrict the sale of smartphones from companies including Xiaomi in the country. Brands like Oppo, Vivo, and Xiaomi are facing tax demands and money laundering allegations, after a close scrutiny of their finances, while companies like WeChat, TikTok and PUBG Mobile have been banned in the country over securi...
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India Investment Body Backs Incentives for Samsung Display Plant in Uttar Pradesh
Samsung Electronics should get tax and other incentives from Uttar Pradesh as the South Korean company looks to invest some Rs. 5,367 crores ($705.75 million) in a smartphone display manufacturing plant in the state, India's lead investment promotion body said in a letter.
-
Samsung Galaxy A50s Price in India Cut, Now Starts at Rs. 18,599
Samsung Galaxy A50s price in India has been cut, making it cheaper by Rs. 2471 for the base variant. The smartphone can now be purchased at a starting price of Rs. 18,599. This comes after the price of the phone had been increased by Samsung owing to an increase in tax rates in India.
-
Samsung Galaxy M21 Price in India Cut, Now Starts at Rs. 12,699
Samung Galaxy M21 has received a price cut from the company. The price of the phone now starts at Rs. 12,699 in the country. The phone had reportedly received a price hike due to the increase in tax on mobile phones from 12 percent to 18 percent.
-
Government Scraps Import Tax on Open Cell Panels in Boost for TV Makers
India has scrapped a tax on imports of open cell TV panels, used to make television displays, in a move likely to boost television manufacturing in the country.
-
Samsung Rapped For Not Passing GST Benefits To Consumers: Report
In December, the GST Council reduced the tax rate on televisions with screen sizes of up to 32 inches to 18 per cent from 28 per cent, which came into effect on January 1, 2019.
-
Samsung Users in India Can Now Check Prices of Their Phone’s Spare Parts Online
Samsung now lists the prices of spare parts of its main smartphones online in India.
-
India Said to Defer Plan to Tax Mobile Touch Panel Imports
India has deferred a plan to tax imports of touch panels, three sources told Reuters, after smartphone makers such as Samsung asked.
-
Flipkart Sale, Samsung Galaxy S9 Renders, Facebook Advertisers on WhatsApp, and More: Your 360 Daily
Flipkart New Pinch Sale starts, Samsung Galaxy S9 renders leaked, Facebook advertisers get WhatsApp access, and more.
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BSNL's New Plans, Samsung Galaxy S8 Launch Date Rumours, Siri Learns Cricket, and More: Your 360 Daily
Samsung Galaxy S8 launch date leaked, Reliance Jio India's primary mobile data provider, Apple's 'Make in India' demands and more in today's 360 Daily.
