KARACHI: The Customs Adjudication-I recovered Rs4.26 million from M/s Voice Traders, Karachi. The company was found involved in tax evasion.
Sources told Customs Today that Collector Customs Adjudication-I Shazia Qureshi issued a show-cause notice to the management of M/s Voice Traders for allegedly causing a loss of Rs 4.26 million by way of mis-declaration of classification.
According to sources, M/s Voice Traders imported a consignment of heavy bikes tyres and engine parts and got them cleared by mis-declaring the classification under Pakistan Custom Tariff (PCT) from Pakistan International Container Terminal (PICT). The company availed undue and inadmissible benefits as well as exemption of sales tax.
It is pertinent to mention here that the correct PCT heading of heavy bikes tires and engine parts is 518.2506.
