KARACHI: The Directorate of Customs Post Clearance Audit detected duties and tax evasion of Rs9.98 million by M/s Bounty Glass Works & Export, it is learnt here.
Sources told Customs Today on Friday that M/s Bounty Glass Works & Export imported a consignment of white crystal balls and liquid chemical, and got it cleared from the PICT Karachi vide GDs on November 17, 2017 by paying customs duty very low at 8 percent after claiming the benefit of the SRO 564/2007.
However, the subject items were correctly classifiable under the PCT 2457.2507 attracting customs duty at 12 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 9.98 million. The goods were cleared by appraiser Ghulam Ali Mastori.
Sources said that the importer violated the provisions of Section 57 (2-A) of the Customs Act-1969, Section 9 read with Section 36 of the Sales Tax Act-1990 and Section 247 of Income Tax Ordinance 2001 punishable under clauses (28) and 654 of Section 214(8) of the Customs Act-1969, Section 74 of the Sales Tax Act-1990 and Section 33 & 84 of Income Tax Ordinance 2001 and Section 4-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.
