KARACHI: Deputy Director Post Clearance Audit Sajid Ali Baloch unearthed tax evasion by using wrong PCT heading and issued notices to the companies involved.
The evaders used South Asian Free Trade Agreement to get clearance of Polyester dyed fabric from Port Qasim and caused a loss of Rs30 million to the national exchequer.
According to details, Sajid Ali Baloch unearthed the tax fraud while checking the data of import consignments of March. M/s Yousaf Enterprise, M/s GNK enterprise, M/s Malik Corporation, M/s Horizon International, M/s HS Unicorn Mart and M/s GM Enterprises used wrong PCT headings during August 2016 to March 2017. The said companies used PCT 4200 and 5407 to get clearance of more than 30 consignments.
During the above said period, the evaders paid 5 percent customs duty instead of 16 percent. After inquiry, the Post Clearance Audit (PCA) issued audit observation to the said companies but they remained fail to submit any answer. After their failure, the PCA forwarded the case to the Customs Adjudication for further proceeding.
Meanwhile, the PCA unearthed another tax evasion by Nestle Pakistan Limited in the import of Coco crunch from Indonesia. The PCA after making initial report, forwarded the case to the Customs Adjudication for further inquiry.
