KARACHI: The Customs Collectorate Export has recovered Rs 645,000 from two companies which were found involved in tax evasion and mis-declaration.
Sources told Customs Today that Customs Export issued show cause notices to M/s Al Hudaibiya Bengal Export Company and M/s Ghaffar Associates. Sources said that during scrutiny of the import data of both the companies, it was revealed that both the companies imported raw material by using wrong PCT heading and availed undue benefits and concessions through SRO 567.
After detecting tax evasion, the authorities issued them show cause notices to both the companies to deposit evaded amount of taxes and duties within 14 days otherwise stern action would be taken against them.
After receiving the show cause notices, the management of M/s Hudaibiya Bengal Export Company deposited Rs 389,000 and the M/s Ghaffar Associates deposited Rs 256,000 before the given dates.
Sources said that Customs Exports authorities have already expedited their efforts to recover outstanding amount from companies which were found involved in tax evasion. Sources said that Customs Export authorities will take stern action against those companies who will not clear their pending dues. Sources said that bank accounts of these companies will be attached and their properties will be seized.
