KARACHI: The Customs Export has issued a show cause notice to a Karachi-based company M/s Farooq Net Wear and Exports to deposit its payable tax amount. The department has also issued notice to another company located in Thatha to deposit its tax amount with fine.
Sources told Customs Today that the department has issued the show cause notice to M/s Farooq Net Wear and Exports allegedly involved in tax evasion of Rs 2.157 million. During March and April this year, the said company cleared 9 consignments but did not submit the due amount in the wake of tax. The company misused SRO 567 to clear its consignments. On this, the Customs Exports has issued notice to the company to deposit its outstanding tax amount within seven days otherwise a departmental action will be initiated against the company.
In another matter, the Customs Exports has issued notice to M/s Shabeer Fertilizer Company, asking to deposit its tax amount with fine. The company was allegedly involved in tax evasion of Rs 1.2 million for misusing SRO 534 on the import of six consignments.
During the audit of the company, the Customs Export found it was involved in tax evasion of Rs1.2 million.
