ISLAMABAD: The Customs Intelligence and Investigation, Rawalpindi, has seized car bumpers and control panels imported by M/s Kids and Teens Entertainment on allegedly evading duty/taxes amounting to Rs 3.2 million in violation of Valuation Ruling No 871.
The customs after seizing the items also served show cause notices on the company and its clearing agent, Sarhad Agency, Rawalpindi. The past record of the company is also being scrutinized to detect tax evasion if any.
As per details, the company imported the seized items through Margalla Dry Port, declaring as electronic dodging cars but the Customs Intelligence staff recovered six bumpers of cars, which were seized due to mis-declaration.
The company declared the value of seized items as Rs 7.929 million but the actual price was Rs 9.445 million as per valuation ruling. It paid Rs 976,000 in the wake of duty/taxes on the said consignment and evaded Rs 3.191 million.
The customs seized the goods under Section 32 (1) (2), 25-A and 178 punishable under Section 14, 9, and 157 of the Customs Act, 1969, and sent the case to the Customs Adjudication for further legal action.
