KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 9.54 million by M/s Akram Trunk & Steel Works, it is learnt here.
Sources told Customs Today that M/s Akram Trunk & Steel Works imported three consignments of steel sheets and some scrapes, and got it cleared from the QICT Karachi vide GDs on August 8, 2017, by paying customs duty very low at only 6 percent after claiming the benefit of the SRO 553/2007.
However, the subject items were correctly classifiable under the PCT 2547.2507 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 Rs9.54 million. The goods were cleared by appraiser Mushtaq Noshad Ali.
Sources said that the importer violated the provisions of Section 47 (6-A) of the Customs Act-1969, Section 8 read with Section 64 of the Sales Tax Act-1990 and Section 36 of Income Tax Ordinance 2001 punishable under clauses (148) and 287 of Section 32(6) of the Customs Act-1969, Section 41 of the Sales Tax Act-1990 and Section 23 & 29 of Income Tax Ordinance 2001 and Section 2-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.
