KARACHI: The management of M/s Asad Hoisery and M/s Sabiha Feed Company deposited the evaded amount of duty and taxes. These companies cleared their outstanding amounts in response to notices issued by Customs Exports authorities.
Sources told Customs Today that during scrutiny of import data it was revealed that both the companies imported different items of garments and hosiery and availed undue benefits and concessions by using SRO 566 and using wrong PCT heading.
After detecting tax evasion, Customs Exports authorities issued them final show cause notice asking them to clear the outstanding amount of taxes and duties within seven days to avoid stern action. After receiving the notices M/s Sabiha Feed Company deposited the evaded amount of taxes to the tune of Rs1,10,000 while M/s Asad Hoisery deposited Rs98,000.
Sources said that recently Customs Exports issued a show cause notice to M/s Hilal Steel Manufacturing which is located in SITE area. The company caused a loss of Rs2,00,000 to national exchequer by importing different consignments of raw material. Customs Exports directed the management of M/s Hilal Steel Manufacturing to clear the outstanding amount within seven days after receiving the notice otherwise stern legal action will be taken against the company which will led to attachment of bank accounts and seizure of property.
