KARACHI: The Directorate of Customs Post Clearance Audit has detected on Tuesday duties and taxes evasion of Rs11.24million committed by M/s Golden Traders Mirpur, it is learnt here.
Sources told Customs Today that M/ Golden Traders Mirpur imported a consignment of vehicle-engine scrape and different kinds of scrape, and got it cleared from the PICT Karachi vide GDs on October 9, 2017 by paying customs duty at eight percent after claiming the benefit of the SRO 558/2007.
However the subject items were correctly classifiable under the PCT 2408.2147 attracting customs duty at 10 percent and income tax at eight percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs11.24 million. These goods were cleared by Head Examiner Junaid A. Khan.
Sources said the importer violated the provisions of Section 22 (6-A) of the Customs Act-1969, Section 26 read with Section 46 of the Sales Tax Act-1990 and Section 121 of Income Tax Ordinance 2001 punishable under clauses (214) and 124 of Section 278(6) of the Customs Act-1969, Section 54 of the Sales Tax Act-1990 and Section 31 & 365 of Income Tax Ordinance 2001 and Section 9-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.
It is necessary to mention here that the Post Clearance Audit will detect 12 more cases in the current month of February.
