KARACHI: Model Customs Collectorate (MCC) Appraisement East has issued a demand notice to Farooq Textile to pay remaining duty and taxes of Rs 6.767 million.
According to sources, Farooq Textile did not pay full amount of their duties and taxes by using wrong statements. The company took advantage and paid less duties and taxes under Customs Act-1969 schedule-5 and Sales Tax Act-8.
The sources further said Appraisement East Collectorate directed the said company to pay their remaining taxes of Rs 3.234 million in terms of Customs duty while Rs 3.1 million in terms of sales tax and over Rs 200,000 in terms of income tax within 15 days, otherwise a heavy fine will be imposed on the company.
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