KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 6.58 million by M/s JK Traders Hyderabad, it is learnt here.
Sources told Customs Today that M/s JK Traders imported a consignment of paper sheets, printers and photo copier papers and magazine size paper rolls, and got it cleared from the PICT Karachi vide GDs on October 19, 2017 by paying customs duty very low at 8 percent after claiming the benefit of the SRO 565/2007.
However, the subject items were correctly classifiable under the PCT 2509.2147 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 6.58 million. The goods were cleared by Head Examiner Waseem Khan.
Sources told that the importer violated the provisions of Section 25 (9-A) of the Customs Act-1969, Section 29 read with Section 42 of the Sales Tax Act-1990 and Section 128 of Income Tax Ordinance 2001 punishable under clauses (258) and 117 of Section 247(6) of the Customs Act-1969, Section 54 of the Sales Tax Act-1990 and Section 81 & 254 of Income Tax Ordinance 2001 and Section 4-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 detected seven more cases in current month of February.
