KARACHI: The Directorate of Customs Post Clearance Audit detected duties and tax evasion of Rs10.98 million by M/s Zoobia Fabric & Export, Karachi.
Sources told Customs Today that M/s Zoobia Fabric & Export, Karachi located in Landi Industrial Zone imported a consignment of silk fabrics, different kinds of fabric printed chemicals and got it cleared from the PICT Karachi vide GDs on January 12, 2018 by paying customs duty low at 6 percent after claiming the benefit of the SRO 568/2007.
However, the subject items were correctly classifiable under the PCT 5487.2504 attracting customs duty (CD) at 10 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs10.98 million. The goods were cleared by Appraiser Shahid Muhammadi.
Sources told that the importer violated the provisions of Section 87 (9-A) of the Customs Act-1969, Section 47 read with Section 25 of the Sales Tax Act-1990 and Section 23 of Income Tax Ordinance 2001 punishable under clauses (121) of Section 47(7) of the Customs Act-1969, Section 65 of the Sales Tax Act-1990 and Section 44 of Income Tax Ordinance 2001 and Section 9-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001. It is necessary to mention here that Directorate of Post Clearance Audit will investigate three more cases in current month.
