KARACHI: The Directorate of Post Clearance Audit (PCA) Karachi has detected tax evasion of Rs 4.4 million by M/s Rana Associates by availing undue benefits and concessions.
Sources told Customs Today that during scrutiny of import data, it was revealed that M/s Rana Associates imported different consignments of sulphur from August 2015 to February 2016 by using undue benefits and concessions through wrong PCT heading and SRO. The company caused a loss of Rs 4.4 million to the national exchequer .
After detecting the tax evasion PCA authorities directed the management of M/s Rana Associates to deposit amount of Rs7,00,000 within seven days alongwith Rs1,00,000 as penalty. PCA authorities also warned the company that failing to clear outstanding amount will led to stern action.
It is necessary to mention here that FBR directed PCA to enhance their efforts to detect tax evasions to generate more revenue during current Fiscal Year 2016-17.
