KARACHI: The Directorate of Customs Post Clearance Audit has detected an evasion of duties and taxes of Rs14million by M/s Usman S Traders Karachi, it is learnt.
The official sources told our reporter that M/s Usman S Traders Karachi imported a consignment of different newspaper colors and chemicals and printing machine parts from Italy under the PCT Heading 3408.3489 and got it cleared from the PCT Karachi vide GDs on May 16, 2017 by paying customs duty at six percent after claiming the benefit of the SRO 622/2007.
However, the subject items are correctly classifiable under the PCT 6702.3461 attracting customs duty at 10 percent and income tax at 12 percent thus, by way of mis-declaration of classification, M/s Usman S Traders Karachi evaded/short-paid Rs14million.
Sources told CT that the importer has violated the provisions of Section 21 (6) & (12B) of the Customs Act-1969, Section 11, 12 read with Section 78 of the Sales Tax Act-1990 and Section 134 of Income Tax Ordinance 2001 punishable under clauses (291) and 198 of Section 204(8) of the Customs Act-1969, Section 23 of the Sales Tax Act-1990 and Section 78 & 156 of Income Tax Ordinance 2001 and Section 7-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.
Earlier, the Directorate of Customs Post Clearance Audit detected evasion of duties and taxes of Rs10.34million allegedly by M/s Yousuf Textile Mills Gharo.
