ISLAMABAD: Directorate of Post Clearance Audit (PCA) has recovered Rs20 million from two importers including M/s A.H Garments.
According to sources. n the directives of Director General Seema Raza, Director Khalil Yousafani and Additional Director Sheeraz Ahmed, selected M/s A.H Garments for audit on the basis of risk profiling determined through desk audit of past clearances.
Desk audit of transactions reflects that M/s A.H Garments evaded duty/taxes amounting to Rs.9.27 million on account of misclassification of PCT in respect of 07 GDs under which imported yarn (Spun Polyester) classifiable under per 5509.2200 has been mis-declared as sewing thread for classification under PCT 5401.1000 to evade duty/taxes.
Record of GDs shows that even in case of polyester sewing thread the import value of goods has been substantially mis-declared at lower values ranging between 1.41 -1.53 USD / Kg. Value of corresponding Spun Polyester Yam (2 or 3 ply), in terms of Valuation Ruling 1582/2021 and 1465/2020 ranges between USD 1.381 to 2.555/kg.
Moreover, the importer claimed inadmissible concessions causing revenue loss to the national exchequer.
