KARACHI: Directorate General of Intelligence and Investigation has submitted a seizure report against M/s IR Trading Company, Lahore, with the collector Adjudication-I for initiating adjudication proceedings against the company, it is learnt.
Official sources told Customs Today that Director I&I-FBR Samina Taslim Zehra has forwarded a seizure report to the Adjudication Collectorate against evasion of duty and taxes to the tune of Rs 714,576 by the importer.
“In pursuance of information regarding concealment of the actual transaction value and clearance of electric goods/Hyundai brand circuit breakers at grossly under-invoiced value against submission of self-made invoice, cleared through Customs Appraisement West, was intercepted and detained by the staff of the Directorate of Intelligence and Investigation,” sources said.
As per invoice submitted with the Customs at the time of filing of GD, the total value of the goods was declared at $2,364. However, the goods were assessed by the Collectorate at $2.5/kilograms (total $3,000).
As per copy of actual commercial invoices procured by the directorate from the shipping agents, the actual value comes to $ 23,761. The differential/suppressed value of the consignment comes to $20,761 equivalent to Rs 2.21 million while the evaded duty and taxes worked out to the tune of Rs 714,576.
The record procured from the shipping line is also confirmed that the charge of mis-declaration and fiscal fraud is established. The consignment being liable for confiscation has been seized under Section 168 of the Customs Act, 1969 for violation of the relevant provisions of law. The seizure report is submitted for initiation of adjudication proceedings.
