KARACHI: The Collectorate of Intelligence Unit (CIU) of the Customs Collectorate Port Muhammad Bin Qasim has started to scrutinize the import data under SRO1125/2011, it is learnt here.
Sources informed Customs Today that the Collector MCC-Port Muhammad Bin Qasim Mukarram Jah Ansari held a meeting at his office a few days ago in which he directed the CIU to start scrutinizing the clearance data under SRO1125/2011.
The sources informed that the Collector has asked the authorities concerned to ensure speedy revenue recovery by the end of the fiscal year 2015-16.
Responding to a query, the sources informed that the authorities concerned of Port Muhammad Bin Qasim have decided to start the scrutinization of the imported data under SRO1125/2011 for last three years.
It is pertinent to mention here that the SRO1125(I)/2011 is linked with the import of plain cloth, however, the sources informed that the authorities concerned of CIU of Port Muhammad Bin Qasim have noticed that the importers while importing the consignments under SRO1125(I)/2011 have misused the exemption and committed the tax evasion.
It may be mentioned here that the revenue collection of the Port Muhammad Bin Qasim was being affected in the third quarters of the Fiscal Year2015-16 and the said step has been taken in the light to achieve the revenue target set by the Federal Board of Revenue-FBR.
