FAISALABAD: Customs Adjudication Additional Collector Beelam-ur-Ramzan has served show-cause notices on M/s JK Spinning Mills for taking illegal benefit of Rule 351 and 352 of SRO 450(I)/2001, causing a loss of Rs 1.585 million to the national exchequer.
As per details, Faisalabad Customs Duty and Tax Remission on Export (DTRE) branch Assistant Collector Idrees Qureshi conducted audit of the company for the year 2012-13 when it imported consignments of raw cotton for production of finished items.
The company was to consume 88 percent of the imported raw material with 12 percent wastage, but the company showed 100 percent net consumption and claimed wastage at higher rate than actual. So, the company allegedly short paid Rs 1.585 million on account of custom duty.
The department forwarded the case to the Customs Adjudication for further legal action. Now, the Customs Adjudication has issued show cause notices to the importer directing it to appear before the Additional Collector Beelam ur Ramzan.
