KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 11.58 million by M/s Balti and Company Hyderabad, it is learnt here.
Sources told Customs Today that M/s Balti and Company Hyderabad imported a consignment of paper printing machine, roller cutter and its parts and got it cleared from the Port Qasim Karachi vide GDs on December 7, 2017 by paying customs duty very low at 10 percent after claiming the benefits of the SRO 562/2007.
However, the subject items were correctly classifiable under the PCT 2548.2508 attracting customs duty at 14 percent and income tax at 12 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 11.58 million. The goods were cleared by Head Examiner Waseem Khan.
Sources told that the importer violated the provisions of Section 29 (7-A) of the Customs Act-1969, Section 32 read with Section 58 of the Sales Tax Act-1990 and Section 58 of Income Tax Ordinance 2001 punishable under clauses (298) and 117 of Section 247(9) of the Customs Act-1969, Section 59 of the Sales Tax Act-1990 and Section 14 & 59 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 will detected three more cases of tax evasion during the month of February.
