KARACHI: The Directorate of Internal Audit has unearthed huge duty and tax evasion by Pak Suzuki Motor.
The said company made processed its 20 consignments without paying duty and taxes worth Rs307.956 million in July 2013. The Directorate of Internal Audit had advised Port Qasim Customs to probe the case and recover the said amount along with default surcharge from M/s Pak Suzuki.
During scrutiny of Bank Guarantee Section Port Qasim Customs, Internal Audit has also pointed out loss of revenue due to non encashment of 44 post-dated cheques, which have been time barred since more than one year.
During investigation, it was also revealed that the exchequer sustained a revenue loss of Rs23.022 million due to wrongly imposition and realisation of 20 percent redemption fine instead of 30 percent as prescribed under law.
