KARACHI: The Customs Intelligence and Investigation (I&I) has seized a consignment of auto spare parts scrap which was being import using wrong PCT Heading.
Reportedly, Customs I&I received a tip-off about import of spare parts scrap under wrong PCT Heading by M/s A&S Company with the help of their clearing agent M/s Rana Enterprises. The accused company showed less import value under PCT code 7602.0090 instead of PCT code 7602.0010 and paid 4 percent customs duty whereas the actual customs duty imposed was 30-32 percent. The wrong PCT code usage caused Rs 2 million to the national exchequer.
The customs authorities impounded the said consignment and registered a case against the accused company.
