KARACHI: The Customs Exports has issued notice to the management of M/s Kiran Textile and Exports due to company’s involvement in tax evasion.
Sources told Customs Today that during scrutiny of import data of the company it was revealed that M/s Kiran Textile imported different consignments of garments raw material through their clearing agent M/s Bowaja Shipping in August and availed undue benefits and concessions by using wrong PCT heading and SRO 533.
Customs Export authorities also determined that M/s Kiran Textile and Exports caused a loss of Rs1.2 million to national exchequer through import of raw material consignments. Now Customs Exports authorities directed the company to clear outstanding amount within seven days after receiving of tax notice otherwise stern action will be taken against the company which will led to attachment of bank accounts and seizure of property.
