KARACHI: The Customs Exports has issued a final tax notice to the management of M/s Abid Hosiery due to tax evasion.
Sources told Customs Today that during recent days Customs Export issued tax notices to 11 companies which are located in Karachi, while 14 companies are situated in rural Sindh areas. Sources said that after receiving tax notices, seven companies informed tax authorities that they will clear outstanding amount within 15 days while some companies have failed to clear pending tax amount.
Sources said that during scrutiny of import data, it was revealed that management of M/s Abid Hoisery imported various consignments of silk and availed undue benefits and concessions by using wrong PCT heading and caused a loss of million of rupees to national kitty,.
After detecting tax evasion, Customs Exports authorities directed the management of M/s Abid Hoisery to clear outstanding tax dues within seven days otherwise stern legal action will be taken against the companies which will led to attachment of bank accounts and seizure of movable and immovable property.
