KARACHI: The Directorate General, Post Clearance Audit PCA, Directorate Karachi has detected tax evasion of over Rs 0.130 million by M/s Flash Communication by availing undue benefits of SRO 659(I)/2007 on import of uncoated polyester. And, an audit observation has also been issued to the importer.
According to details, during audit of import clearances made under different concessionary SROs, it has been found that M/s. Flash Communication imported four consignment of uncoated polyester film by mis-declaring the goods under PCT Heading 3920.6310, in order to avail the benefit of SRO 659(I)/2007 dated 30.08.2007, whereas the goods are correctly classifiable under PCT Heading 3920.6200 on which concessionary rate of duty/taxes is not available.
In identical imports made by the other importers, assessing group has categorically rejected the declared classification of there goods under PCT heading 3920.6310 as well as claim of concessionary rate of Customs Duty @ 5% percent under SRO 659(I)/2007 dated 30.08.2007 on the ground that the imported items i.e. uncoated polyester film is correctly classifiable under PCT 3920.6200 chargeable to customs duty @ 20% sales tax @ 17 percent and WHT @ 6 percent.
Iranian CG, Saigol inaugurate Wall of Iqbal at LCCI
LAHORE: Iranian Consul General Mehran Movahedfar and Lahore Chamber of Commerce and Industry (LCCI) President Faheem Ur Rehman Saigol jointly...
