KARACHI: The Directorate of Post Clearance Audit (PCA) has detected tax evasion to the tune of Rs 2.209 million by M/s Kainat Enterprises Lahore by illegally availing benefits customs concessions on import of LED lights etc.
The PCA while scrutiny/audit of import data found that M/s Kainat Enterprises had imported LED lights, Kainat LED lights and cleared the same from Model Customs Collectorate Appraisement West. The importer claimed benefits of Fifth Schedule.
However, 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.
In this regard, according to sources, the importer M/s Kainat Enterprises has been directed to pay the short-paid taxes and duties at the earliest.
