KARACHI: While continuing the habit of evading taxes and duties, the Karachi International Containers Terminal (KICT) Limited evaded at least Rs 7.73 million by mis-declaring goods under PCT 8426.4100.
The Directorate of Post Clearance Audit-PCA, Karachi detected the evasion of huge amount 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 8.1.2013. 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 have 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.
Therefore, the KICT Ltd Karachi is requested to pay the evaded/short paid amount of duty and taxes within 10 days. It is recalled here that the M/s KICT earlier had also evaded/short paid at least Rs 23.80m tax evasion on import of super brand used Quay Cranes.
