KARACHI: The Customs Adjudication-I has recovered Rs 5.35 million from M/s Anwar Associates and Company. 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 Anwar Associates and Company for allegedly causing a loss of Rs 5.35 million by way of mis-declaration of classification.
According to sources, M/s Anwar Associates and Company imported a consignment of electric heaters, heaters rods and imported 7/16 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 Anwar associates and Company itself has imported identical/same import under correct PCT heading 2390.4508. Apart from it, all other importers of different kinds of electric heaters, heaters rods and imported 7/16 wires have either been declared by the importers or assessed by the Collectorates.
