ISLAMABAD: Customs Adjudication Deputy Collector Dr Kaukab Farooq ordered for recovery of evaded amount of duty/taxes amounting to Rs 280,572 from M/s Wahab International, besides imposing a fine of Rs 25,000.
According to the judgment, customs principle appraiser reported that Customs Audit and Petroleum conducted the audit of imports at Islamabad dry port for the financial year 2013-14 and reported that according to Section 148 of the Income Tax Ordinance, 2001, the collector of customs shall collect advance income tax from every importer of the goods on the value of the goods at the rate specified in Part-II of the ordinance that describes that tax under Section 148 shall be collected at the rate of 1 percent in case of manufacturers and 3 percent in case of commercial importers covered under notification no SRO 1125(1)/2011 dated December 31.
During the scrutiny of record, it has been observed that customs authorities did not realise this income tax at the rate of 3 percent from the importer, M/s Wahab International. This resulted in short realisation of revenue amounting Rs 280,572.
Dr. Kaukab said stated in judgement, “After the issuing of reminder and show cause notices and granted sufficient opportunities, no one appeared on behalf of M/s Wahab International. It reveals that the management of the company has nothing to offer in their defense. The charges levelled in the show cause notice stand established. I order for recovery of evaded amount”.
