KARACHI: The Directorate of Intelligence and Investigation Inland Revenue (IR), Karachi has decided to legal action against an oil and marketing company for non-payment of sales tax and misusing goods declarations.
The Inland Revenue’s intelligence wing will take action against the company after endorsement by Large Taxpayer Unit (LTU), Lahore. The mentioned oil and marketing company (OMC) has not been paying sales tax by not declaring goods declarations (GDs), having import value of Rs 16.213 billion, in its sales tax returns.
The decision of legal action was taken after thorough investigation by the Directorate General of Intelligence and Investigation-IR, Karachi, which was confirmed by the assessment order of LTU Lahore.
While conducting an investigation into the issue of sharing Good Declarations (GDs) in petroleum sector, it was observed that two oil marketing companies have imported motor spirit (petrol) for themselves as well as on behalf of other OMCs.
