In 2022 alone, as per the association, about 1.2 million high-end devices worth Rs 10,800 crore have been imported by the grey marketers to be sold in India, leading to a loss of Rs 4,985 crore for the exchequer. If not for the grey market, the government could have got Rs 2,376 crore as customs duty and Rs 2,371.7 crore as goods and services tax (GST), it said.
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Wednesday, December 14, 2022
Handset grey market makes a Rs 5,000-crore hole in the exchequer
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