KARACHI: The Customs Collectorate of Adjudication-I has served a show cause notice on the Karachi International Container Terminal Limited for bringing a loss of Rs 7.73 million to the national kitty by mis-declaration of goods under PCT 8426.4100.
According to details, the Directorate of Post Clearance Audit-PCA, Karachi detected the tax evasion and issued a contravention report against M/s Karachi International Containers Terminal Limited.
According to sources, the PCA Karachi while scrutinizing the import data observed that M/s KICT imported a consignment that included self propelled telescope of Genie brand dated 8.01.2013.
The consignment was cleared from Model Customs Collectorate of Appraisement-West Karachi by mis-declaring the goods under PCT 8426.4100 attracting customs duty at free where the said goods are correctly classifiable under PCT heading 8709.1900 chargeable to customs duty at 30 percent.
Thus, M/s KICT by mis-declaration of classification evaded/short paid customs duty Rs 6,189,091, sales tax Rs 990,255, additional sales tax Rs 185,673 and income tax Rs 368,251 totaling Rs 7,733,270, the sources added, adding that the KICT Ltd Karachi is requested to pay the evaded/short paid amount of duty and taxes within 10 days.
