FAISALABAD: The Model Customs Collectorate (MCC) recovery branch recovered Rs 5.560 million in the wake of differential amount from Faisalabad based company M/s Ittifaq Foundries.
Sources told Customs Today, that Deputy Collector recovery branch Rana Falik Shair started a survey for the recovery of outstanding taxes. He formed a special team under the supervision of Superintendent Muhammad Mukhtar, which also included Inspector Muhammad Faizi Raza, and UDC Abdul Sattar and others.
Sources said that company imported steanless steel tubes and pipes through ex bond GDs in the year 1991 for installation in M/s Ramzan Sugar Mills. The goods were clear against exemption under SRO-560(1)90 dated 7-06-1990 read with CBRs certificate for deletion program. Subsequently, the outstanding amount was adjusted against the importer on the ground that specification of imported goods did not confirm with that approved by Federal Board of Revenue (FBR).
It is necessary to mention here that customs collectorate Faisalabad expedited its efforts to recovery outstanding amount from defaulters.
