KARACHI: The Directorate of Customs Post Clearance Audit has detected the evasion of duties and taxes of Rs6.48million committed by M/s Kalsom Steel Works Karachi, it is learnt here.
Sources told Customs Today that M/s Kalsom Steel Works Karachi imported a consignment of steel scrap, old steel items and various types of crockery and other items and got it cleared from the PICT Karachi vide GDs on January 2, 2017 by paying customs duty at 6 percent after claiming the benefits of the SRO 562/2007.
However the subject items were correctly classifiable under the PCT 2908.2487 attracting customs duty at 10 percent and income tax at 12 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs06.48million. The goods were cleared by Head Examiner Saleem Memon.
Sources said that the importer violated the provisions of Section 89 (7) & (45A) of the Customs Act-1969, Section 21 read with Section 58 of the Sales Tax Act-1990 and Section 48 of Income Tax Ordinance 2001 punishable under clauses (147) and 243 of Section 475(7) of the Customs Act-1969, Section 24 of the Sales Tax Act-1990 and Section 25 & 58 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.
It is necessary to mention here that the Post Clearance Audit is expected to unearth more than 14 cases during the month of March as some cases are under investigation.
