Tax Losses to Counterfeits and Smuggling for Seven Industries in India

in Counterfeit Goods

The smuggling and sales of counterfeit goods in 7 major industries in India leads to a tax loss of $4.5 Billion (261 Billion Indian Rupees) to the government, according to a study by Ficci Cascade (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy).

The seven industries that were covered in the study included counterfeit auto parts, counterfeit tobacco and alcohol, and fake electronics.

Source:  “Smuggling, tax evasion cost `26k cr,” Statesman, June 5, 2013.

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