KARACHI: The Collectorate of Customs Adjudication-I has issued show-cause notice to M/s Kashif Electronics for its involvement in huge tax evasion amounting to Rs40,164,427 on import and clearance of Anex Brand home appliances from China through mis-declaration of value and wrong assessment violating the Valuation Ruling No.384.
According to the FBR sources, the Directorate General of Customs Intelligence and Investigation-FBR, Karachi on a credible information retrieved the import data of M/s Kashif Electronics from PRAL’s online facility and upon scrutiny of the same it was revealed that the home appliances including 42,209 vacuum cleaners; 85,362 blenders/grinders; 15,771 food processors; 24,990 choppers; 46,079 juice extractors; 13,146 microwave ovens; 3,348 deep freezers; 53,316 dry/steam irons; 11,438 grill toasters; 32,914 electric kettles; 36,946 sandwich maker/toasters; 3000 hairdryers; 21 PCB boards; 4202 insect killers; 1 semi-automatic washing machine and 1000 invertors from China were cleared through Model Customs Collectorate (MCC)of Appraisement-West as unbranded on under-invoiced value, causing colossal loss to the national exchequer.
Subsequently, the calculation of the differential value of the ANEX brand home appliances imported by M/s Kashif Electronics was Rs88,779,382 involving duty/tax evasion to the tune of Rs40,164,427, including Customs Duty of Rs13,121,731; Sales Tax of Rs17,299,240; Additional Sales Tax of Rs3,057,035 and Income Tax of Rs6,686,421.
The contravention report prepared by the Directorate General of Customs Intelligence & Investigation-FBR Karachi has been sent to the Collectorate of Customs Adjudication-I.
The Collector of the Collectorate of Customs Adjudication-I in the show-cause notice stated that the importer M/s Kashif Electronics in connivance of its clearing agent M/s Morriswala & Company has violated the provisions of Sections 25A, 32(1) &(2), 32A read with the Section 79 of the Customs Act, 1969; punishable under Clauses (14) and (14A) of Section 156(I) of the Customs Act,1969; further read with the Sections 3,4,6, 7A,33,34 of Sales Tax, 1990; read with Section 148(1) of Income Tax Ordinance, 2001.
In order to proceed the case further, the Collectorate of Customs Adjudication-I has summoned the importer on 27 August, 2014 for hearing.
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