KARACHI: Directorate-General Customs Intelligence and Investigation (I&) Director Irfan Javed detected misuse of SR 655(I)/2006 dated 27.6.2006 and tax evasion of Rs374.2 million by M/s Islam Engineering (Private) Limited.
As per details, Director I&I Irfan Javed received credible information that M/s Islam Engineering (Private) Limited, Lahore, along with their clearing agent M/s Bushra Enterprises (Chal No. 2425) Karachi, are involved in duty and tax evasion by way of illegally disposing off iron and steel sheets/ coils, imported vide SRO 655 (I) 2006 dated 27.6.2006 in the local market. The imported goods can only be consumed by the importer for manufacturing of parts and accessories of motor cycles.
He immediately constituted I&I team on 19.8.2019 who recovered 18 iron and steel coils (weighing 144 MT) from M/s SPT Warehouse, Ghani Chewrangi, S.I.T.E, Karachi, which as per the stickers pasted thereon showing production and heat numbers, were actually imported by M/s Islam Engineering (Private) Limited, vide in-bond GD No. KAPW-IB-184005, dated 27.6.2019. The goods had also been ex-bonded by the importer and clearing agent vide ex-bond GD No. KAPW-EB-12782 dated 31.7.2019.
However, the said coils were illegally gold to M/s Recco Associates, Karachi, instead of transporting them to Lahore for further processing/production at their unit. The total quantity of coils cleared vide aforesaid GD is 513 MT, out of which 144 MT were recovered from the warehouse while 369 MT have, reportedly, been disposed-off in the market. The recovered goods/coils have been seized for evasion of duty/taxes to the tune of Rs11,680,000/-.
Furthermore, as per data retrieved from M/s PRAL, 15,317 MT of prime quality iron and steel sheets, coils were imported by the said unit since 1st July, 2016 under SRO 655(I) 2006, dated 27.6.2006. Prima facie, the entire quantity has been misappropriated clandestinely in the local market, involving duty/taxes worth Rs374.2 million. FIR in the case has been lodged and further investigation is underway.
