KARACHI: The Directorate of Intelligence and Investigation, Inland Revenue, Federal Board of Revenue has recovered around Rs 250 million from Bonanza Garments Industries (Pvt) Limited. The company was allegedly involved in sales tax evasion.
The sources told Customs Today that the Directorate of Intelligence and Investigation conducted a successful raid on Bonanza Garments Industries (head office) last month and unearthed sales tax evasion of Rs 250 million for the period from July 2013 to June 2015.
The raiding party managed to seize (under seizure memo) bank statements, registers and records in respect of bank record, journal vouchers expenditures and other related issues. The team also acquired soft data and hard copies of sales tax invoices in respect of clients for the period July 2013 to June 2015.
After initial scrutiny of the seized record, it has been found by the tax authorities that Bonanza was involved in a significant amount of sales tax evasion while further anomalies of the company are being investigated, sources added.
