KARACHI: The Appraising Intelligence Branch of Model Customs Collectorate Appraisement-West has held a consignment at the Karachi International Terminal for availing undue concessionary benefit of zero-rated duty/taxes as per Duty Taxes Remission on Exports (DTRE).
The sources informed Customs Today that the Appraising Intelligence Branch on information held the polyester yarn consignment and claiming DTRE on export of the consignment.
“On scrutinising the consignment, the examining officials of MCC-Appraisement-West found that the importer was involved in misdeclaration and tried to clear cotton yarn in garb of polyester yarn and availing undue concessionary benefit of zero rated duty/taxes according to DTRE,” they added.
Sources said that the importer was involved in misdeclaration and also availing undue benefit of DTRE, adding that the import value of clearing the cotton yarn was much higher than the import value of polyester yarn while 15 percent custom duty, 17 percent sales tax and withholding tax would also be applied on the imported consignment of cotton yarn.
Without disclosing the name of the importer, the sources said that the scrutiny of the past clearance data of the importer was being verified and after that a seizure report would be made against him.
The Pakistan Customs has recently beefed up scrutiny after detection of several cases in which the exporters used fake documents to clear their consignments.
For availing DTRE facility, documents made mandatory by the customs are: bank guarantee from a commercial exporter, indemnity bond along with the post-dated cheques from a direct and indirect exporter and corporate guarantee from exporters in the corporate sector.
The sources said that the said decision of customs authorities would certainly play a vital role in stopping the leakages of the revenue and put a positive impact on national exchequer.
