KARACHI: Directorate of Customs Post Clearance Audit Director Nadeem Memon has detected duties and tax evasion of Rs 9.25 million by M/s Najeeb Fancy Aluminum , Karachi, it is learnt here.
Sources told Customs Today on Aug 3, 2018, M/s Najeeb Fancy Aluminum, Karachi imported a consignments of aluminum scrape and different types of aluminum sheets role and thick sheets, (for fancy window and door frames) and got it cleared from the QICT on January 22, 2018 by paying customs duty at 10 percent after claiming the benefit of the SRO 566/2007.
However, the subject items were correctly classifiable under the PCT 2514.3504 attracting customs duty at 14 percent and income tax at 12 percent, thus by way of mis-declaration of classification, the company evaded/short-paid Rs 9.25 million. During the month of January, 2018, the goods were cleared by Examiner Ch. Rafaqat and Younus Ali.
Sources said that the importer violated the provisions of Section 9A,2B & 75 (2, 8 and 6-A) of the Customs Act-1969, Section 96 read with Section 5 of the Sales Tax Act-1990 and Section 24 of Income Tax Ordinance 2001 punishable under clauses (125) of Section 35(6) of the Customs Act-1969, Section 24 of the Sales Tax Act-1990 and Section 89 of Income Tax Ordinance 2001 and Section 3-B 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.
