KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 9.35 million by M/s Smart Associate Hyderabad, it is learnt.
Sources told Customs Today that M/s Smart Associate imported a consignment of fancy electric board and hardwires, and got it cleared from the PICT Karachi vide GDs on November 17, 2017 by paying customs duty at 12 percent after claiming the benefit of the SRO 558/2007.
However, the subject items were correctly classifiable under the PCT 2504.2478, attracting customs duty at 16 percent and income tax at 10 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 9.35 million. The goods were cleared by Appraiser Ghulam Ali Mastori
Sources told that the importer violated the provisions of Section 36 (4-A) of the Customs Act-1969, Section 16 read with Section 23 of the Sales Tax Act-1990 and Section 478 of Income Tax Ordinance 2001 punishable under clauses (247) and 215 of Section 258(3) of the Customs Act-1969, Section 66 of the Sales Tax Act-1990 and Section 25 & 14 of Income Tax Ordinance 2001 and Section 5-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.
Directorate of Customs Post Clearance Audit, director PCA Nadeem Memon has said in the month of April 18 cases will be audit include 3 old pending cases, Source said in the meeting of PCA office Collector said this month PCA observe all cases which audited in last 7month?
