M/s Feroze 1888 Mills short-paid Rs6m duties, taxes on import of LED streetlights

KARACHI: M/s Feroze 1888 Mills Limited reportedly evaded around Rs 6 million duties, taxes on import of LED streetlights, LED floodlight etc.

The detection has been caught by the Directorate of Post Clearance Audit Karachi and audit observation is also issued.

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According to sources, during scrutiny of import data, it is found that M/s Feroze 1888 Mills Limited imported T8 LED tube, LED bulb, LED floodlight 100-W, LED streetlights etc through MCC Appraisement West by claiming benefits of Fifth Schedule.

“The Federal Board of Revenue has clarified that benefits of Fifth Schedule is for renewable energy technologies for LEDs with or without ballast with fittings. Therefore, the concessions claimed by the importer M/s Feroze 1888 Mills Limited were inadmissible to the importer”, sources added.

In this regard, the importer has been advised to deposit the short-paid taxes/duties at the earliest

.