KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 12.48 million by M/s Zubairi Steel Works, Karachi, on April 27, it is learnt here.
Sources told Customs Today that M/s Zubairi Steel Works, imported a consignment of silver and steel scrape, steel rods and punching machines and got it cleared from the PICT Karachi vide GDs on September 8, 2017 by paying customs duty very low at 8 percent after claiming the benefit of the SRO 571/2007.
However, the subject items were correctly classifiable under the PCT 3248.2409 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs12.48 million. The goods were cleared by Appraiser Mumtaz Hai Aiwan.
Sources told that the importer violated the provisions of Section 49 (7-A) of the Customs Act-1969, Section 87 read with Section 69 of the Sales Tax Act-1990 and Section 08 of Income Tax Ordinance 2001 punishable under clauses (177) and 120 of Section 36(9) of the Customs Act-1969, Section 11 of the Sales Tax Act-1990 and Section 69 & 47 of Income Tax Ordinance 2001 and Section 3-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.
