KARACHI: Collector Customs Export Saqif Saeed on Tuesday recovered evaded amount of Rs5.21 million from M/s B G Traders and M/s Saad Cotton Fabrics Company, Karachi.
Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s B G Traders availed undue benefits and concessions by importing a consignment of office accessories include white papers by misusing SRO 549. The consignment was cleared through Examiner Waseem Jan on December 16, 2017.
Sources said that the company was allegedly involved in tax evasion of Rs3.21 million. The Customs Export started investigations after detecting the tax evasion; a final notice was issued to the company on July 19, 2018 to deposit the evaded amount within 14 days.
After receiving the notice, the management of M/s B G Traders deposited the evaded amount in the official account of the Customs Export on August 2, 2018.
While the management of M/s Saad Cotton Fabric Company, Karachi also cleared Rs2 million amount of taxes and duties. Sources said that M/s Saad Cotton Fabric Company also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.
The Customs Export authorities served a final notice to the company on July 24, 2018. The management of M/s Saad Cotton Fabrics Company deposited the evaded amount after receiving the final notice in this regard.
