Violation of Asean Free Trade Agreement may Cost Sony Corp. INR 3 Billion in Duty
Aug 28 15
Sony Corp. is in the cross-hairs of a Directorate of Revenue Intelligence (DRI) investigation for allegedly violating the India-Asean free trade agreement to import goods from the group's overseas arms without paying appropriate duties, in the latest instance of a crackdown on corporates for abusing trade pacts. DRI officials had visited the company's office to recover documents. Sony's India arm has also been asked to furnish documents from suppliers and statements of officials has been recorded in the case, which officials say has a duty implication of about INR 3 billion. The investigations are centered on the import of televisions from Malaysia in a semi-knocked down condition by allegedly mis-declaring them as parts that attract concessional duties under the India-Asean free trade agreement. The Indo-Asean FTA offers concessional duty benefit to a large number of goods manufactured in the Asean region. However, all imports from Asean countries into India have to meet a mandatory 35% value addition norm in the Asean country from where they are exported to India. Without due value addition, India can deny duty benefits available to goods under the FTA.
Sony and Opera Software Announce the Launch of Two New Indian-Entertainment Apps in the Opera TV Store for Sony Bravia Internet TV
Dec 12 13
Sony and Opera Software announced the launch of two new Indian-entertainment apps in the Opera TV Store for Sony BRAVIA internet TVs. These new apps are Sony LIV, Multi-Screen Media’s (Sony Entertainment Network) Video-on-Demand service, and BIGFlix. The Sony LIV app offers 18 years of rich and exclusive content from Sony Entertainment Television, covering genres including drama, comedy, thriller, reality shows and many more. It offers users their favorite current and classic shows from Sony, through a single log-in, seamless and engaging experience. The app also packs in features including multi-bitrate video streaming, which provides users with better quality videos, based on their internet connection speed. Now, Bravia users can enjoy all their favorite shows with a click of remote button whenever they want. The Opera TV Store also brings Bollywood closer to BRAVIA users. BIGFlix subscribers can stream HD movies from an impressive catalog of over 1,500 films from across genres such as action, comedy, drama and romance, as well as offering over 10 languages including Hindi, English, Telugu, Tamil, Bengali and Punjabi. BRAVIA users also get to enjoy a 3-month Unlimited Subscription from BIGFlix. The Opera TV Store is Opera Software’s HTML5 application platform for internet devices, with exciting web apps optimized for big-screen TVs including the Sony BRAVIA internet TV. App categories span Video (the most popular category), Music, Social Networking, Games and News and Information, making it easier for users to discover and enjoy the extensive app portfolio. Sony LIV, BIGFlix and hundreds of other interesting apps from the Opera TV Store can be accessed by a single touch on the "SEN" button of the BRAVIA remote. The Opera TV Store application platform has already shipped on tens of millions of devices, including Internet TVs and Blu-ray Disc players. Also, using Opera TV Snap, a next-generation TV-app technology with the ability to transform online video channels into apps for connected TV, content providers can quickly create their TV apps to be distributed through the Opera TV Store at no cost.