KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 10.47 million by M/s Qayyum Associate Mirpur Khas, it is learnt here.
Sources told Customs Today that M/s Qayyum Associate Mirpur Khas imported a consignment of fancy boards and PVC hard pipes, and got it cleared from the PICT Karachi vide GDs on October 16, 2017 by paying customs duty very low at 8 percent after claiming the benefit of the SRO 556/2007.
However, the subject items were correctly classifiable under the PCT 3504.2178 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 10.47 million. The goods were cleared through Appraiser Waseem Ahmed.
Sources told that the importer violated the provisions of Section 38 (6-A) of the Customs Act-1969, Section 19 read with Section 47 of the Sales Tax Act-1990 and Section 148 of Income Tax Ordinance 2001 punishable under clauses (178) and 215 of Section 258(6) of the Customs Act-1969, Section 24 of the Sales Tax Act-1990 and Section 89 & 29 of Income Tax Ordinance 2001 and Section 5-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.
