LAHORE: Directorate Post-Clearance Audit (PCA) Lahore recovered Rs 2.8 million from Ahmed Impex for evading duty and taxes by misusing SRO 1125(I)/ 2011 and SRO 638 (I)/ 2005, Customs Today learnt here.
According to the law benefits under the SROs is available only to the persons doing business in five sectors i.e. textile, carpet, leather, sports and surgical that are registered as manufactures as well as importers, exporters and wholesalers under Sales Tax Act 1990 and is usable as industrial inputs subject to certain conditions.
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The PCA in the case observed that Ahmad Impex s claimed wrongful exemption and concessions under the SRO and withholding tax at the rate of 1 percent and 3 percent has been short deposited to the national exchequer.
The PCA following observations that the company deposited less withholding tax gave it 10 days time to deposit the balance amount of Rs 2.8 million.
The company in response to the PCA Audit Report positively deposited the amount enabling the PCA to close the case. According to sources the case was detected and worked out by Deputy Director Asma Bashir and audit Attiqur Rehman and were able to make the party deposit the balance withholding tax in the national kitty.
