KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 15.14 million by M/s M.K S Traders Karachi, it is learnt here.
Sources told Customs Today that M/s M.K S Traders Karachi imported a consignment of role of printed papers, printed sheets and different size and colour of printer papers, and got it cleared from the PICT Karachi vide GDs on October 22, 2017 by paying customs duty at 6 percent after claiming the benefit of the SRO 562/2007.
However, the subject items were correctly classifiable under the PCT 2407.5485 attracting customs duty at 10 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 15.14 million. The goods were cleared by Head Examiner Shamsuddin.
Sources told that the importer violated the provisions of Section 32 (6) & (8-A) of the Customs Act-1969, Section 17 read with Section 28 of the Sales Tax Act-1990 and Section 142 of Income Tax Ordinance 2001 punishable under clauses (244) and 147 of Section 471(9) of the Customs Act-1969, Section 82 of the Sales Tax Act-1990 and Section 89 & 178 of Income Tax Ordinance 2001 and Section 7-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.
It is necessary to mention here that Post Clearance Audit has detected a number of cases during last month of January 2018.
