(a) whether outflow of illicit money is due to misinvoicing in the export of products;
(b) if so, the details thereof;
(c) whethermisinvoicing of the products exported constitute about 99% of the total illicit outflow of money unaccounted for; and
(d) if so, steps taken by the Government to check misinvoicing of the products exported?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI JAYANT SINHA)
(a)&(b):Certain cases have been detected by the Directorate of Revenue Intelligence (DRI) wherein undervaluation in the export of products have been resorted to launder and transfer money outside India.
The details of cases of such misinvoicing detected in the export of products during the last three years and current year is as below:-
(Rs. in crore) Year No.of cases detected Value involved (Differential value) 2011-2012 - - 2012-2013 10 95.22 2013-2014 11 485.07 2014-2015 - - (upto Jan, 15)(c) The precise quantification cannot be done as the investigations conducted by DRI reveal that misinvoicing in the products exported is one of the mediums of trade used to launder and transfer money outside India.