LAHORE: The Large Taxpayer Unit (LTU) has booked directors and management of Haseeb Sugar Mills for allegedly evading federal excise duty and sales tax amounting to Rs 113 million, sources told Customs Today.
According to the sources, on the directions of LTU chief commissioner Ch Safdar the monthly sales tax and federal excise duty paid by the company was analysed and it was reveled that M/s Haseeb Waqas Sugar Mills evaded federal excise duty and sales tax amounting to Rs 113 million for the tax period between December 2014 and January 2015. The sources said that the evasion was established from misstatement of the company’s FED liability.
It was said that the company sold white crystalline sugar weighing 20,474.20 matric ton but it declared its value at Rs 4.72 kilograms against the prevailing rates of Rs 48 per kilograms and avoid paying FED on 263,646 bags of sugar which prompted LTU to lodge FIR bearing no 2/2015 against the company, its management and directors including chairman Raza Mustafa.
Further, the taxpayer was ordered by the Divisional Bench to pay Rs 45 million but the taxpayer failed to do so, the sources added, saying that since the taxpayer failed to join investigations and their directors and management the Investigation Officer approached the Special Judge Customs, Taxation and Anti-Smuggling and the Court issued non-bail able warrants of arrest against the directors and management of Haseeb Sugar Mill for allegedly evading the federal excise duty and sales tax, the sources stated.
