KARACHI: Directorate of Customs Post Clearance Audit Director Nadeem Memon detected duties and tax evasion of Rs11.50 million by M/s Alija Steel Works, Super Highway, Karachi, it is learnt here.
Sources told Customs Today on Monday that M/s Alija Steel Works imported different kinds of steel scrape consignments included thick and thin sheets, steel pieces and got it cleared from the QICT on November 16, 2017 by paying customs duty at 10 percent after claiming the benefits of the SRO 551/2007.
However, the subject goods were correctly classifiable under the PCT 4788.2407 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 Rs11.50 million. During the month of November, 2017, the consignments were cleared by Head Examiner Sameer Ahmed Qureshi.
Sources said that the importer violated the provisions of Section 54,78,89 & 98 (4 and 7-A) of the Customs Act-1969, Section 11,16 read with Section 10 of the Sales Tax Act-1990 and Section 23, 78 of Income Tax Ordinance 2001 punishable under clauses (243,843) of Section 31(2,9) of the Customs Act-1969, Section 45 of the Sales Tax under Act-1990 and Section 23 of Income Tax Ordinance 2001 and Section 6,8-B of the Sales Tax Act-1990 read with a reference of 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.
