KARACHI: The Customs Adjudication-I has recovered Rs 3.26 million from M/s Shabbir traders. The company was found involved in tax evasion.
Sources told Customs Today that Collector Customs Adjudication-I Mohammad Javed has sent a show-cause notice to M/s Magna Enterprises for allegedly causing a loss of Rs 2 million by way of mis-declaration of classification.
According to sources, M/s Magna Enterprises imported a consignment of steel scrap and used motorcycle parts and got them cleared by mis-declaring the classification under Pakistan Custom Tariff (PCT) from Pakistan International Container Terminal (PICT). They allegedly availed undue and inadmissible benefit as well as exemption of sales tax.
It is pertinent to mention here that M/s Magna Enterprises itself has imported identical/same import under correct PCT heading 2401.7809. Apart from it, all other importers of steel scrap and used motor cycle parts have either been declared by the importers or assessed by the Collectorates.
