KARACHI: The Directorate General of Post Clearance Audit (PCA), Karachi Directorate, has detected evasion of duty/taxes to the tune of Rs 15 million on import of copper rods/strips by M/s Newage Cables (Private) Limited.
According to the details, the PCA while scrutinizing the import data related to import of copper rods/strips in coils correctly classifiable under PCT Heading 7408.1100 chargeable to customs duty of 10 percent, found that certain importers are clearing these goods by mis-declaring the same under PCT heading 7407.1020 chargeable to customs duty at 5 percent, in order to evade duty/taxes.
The PCA stated that the M/s. Newage Cables had imported three consignments of copper wire rods 8.0mm and cleared the same from Appraisement-West and Appraisement-East through their clearing agent M/s Cargo Care (Pvt) Ltd by willfully and knowingly mis-declaring the goods under PCT Heading 7407.1020 chargeable to 5 percent customs duty. However, copper rods in coils/rolls are correctly classifiable under PCT heading 7408.1100 chargeable to 10 percent.
Thus, M/s Newage Cables with active connivance of its clearing agent M/s Cargo Care evaded around Rs 15 million, the PCA alleged.
