KARACHI: The Customs Adjudication-I has recovered Rs 3.86 million from M/s Karachi Stabilizers. The company was allegedly involved in tax evasion.
Sources told Customs Today that Collector Customs Adjudication-I Mohammad Javed issued a show-cause notice to M/s Karachi Stabilizers for allegedly causing a loss of Rs 3.86 million by way of mis-declaration of classification.
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According to sources, M/s Karachi Stabilizers imported a consignment of different kinds of electronics parts and imported wires and got them cleared by mis-declaring the classification under Pakistan Custom Tariff (PCT) from Pakistan International Container Terminal (PICT). The company allegedly availed undue and inadmissible benefit as well as exemption of sales tax.
It is pertinent to mention here that M/s Karachi Stabilizers itself has imported identical/same import under correct PCT heading 2806.8720. Apart from it, all other importers of different kinds of electronics parts and imported wires have either been declared by the importers or assessed by the Collectorates.
