LAHORE: Directorate Post Clearance Audit (PCA) Lahore has recovered Rs 2.8 million from Ahmed Impex as the company had allegedly evaded 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 are available only to the persons doing businesses in five sectors i.e. textile, carpet, leather, sports and surgical; and are registered as manufactures as well as importers, exporters and wholesalers under Sales Tax Act 1990.
The PCA in the case observed that Ahmad Impex claimed wrongful exemption and concession which actually, otherwise not entitled for such benefits 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 company deposited less WHT, gave 10 days time to the party, asking it to deposit the balance tax amounting to Rs 2.83 million.
The company in response to the PAC 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.
