KARACHI: The Directorate of Customs Post Clearance Audit, Director Nadeem Memon has detected duties and tax evasion of Rs 9.87 million by M/s KS Chemicals and Fertilizer, Hyderabad, it is learnt here.
Sources told Customs Today on Tuesday that M/s K.S. Chemicals and Fertilizer, Hyderabad imported two consignments of different fertilizer chemicals and got it cleared from the QICT Karachi vide GDs 7625 on January 28, 2018 by paying customs duty at 10 percent after claiming the benefit of the SRO 562/2007.
However, the subject items were correctly classifiable under the PCT 2478.3406 attracting customs duty at 14 percent and income tax at 10 percent, thus by way of mis-declaration of classification the company evaded/short-paid Rs9.87 million. During the month of January, 2017 the goods were cleared by Appraiser Ghulam Nabi.
Sources said that the importer violated the provisions of Section 58 (2-A) of the Customs Act-1969, Section 27 read with Section 18 of the Sales Tax Act-1990 and Section 36 of Income Tax Ordinance 2001 punishable under clauses (247) of Section 354(8) of the Customs Act-1969, Section 38 of the Sales Tax Act-1990 and Section 43 of Income Tax Ordinance 2001 and Section 6-B of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.
