KARACHI: Collectorate of Customs SAPT has registered a first information report (FIR) against M/s Shahid Sons for submitting fake invoices to understate the value of the imported goods from China and evade duty and taxes worth Rs10,113,260/-.
According to the FIR registered by the Collectorate, the importer declared the value of 204 units of water submersible motors as US$ 31,608/- in the Goods Declaration (GD) and the electronic invoice, whereas the actual value of the goods as per the export invoice and the China Customs Goods Declaration was US$ 124,212/-. The goods were assessed as per the Valuation Ruling 990 and allowed release on the basis of self-declaration and self-submitted documents.
However, the Collectorate received credible information that the importer had mis-declared the actual value of the goods and submitted manipulated/fabricated invoice reflecting lower value. The Collectorate then sought the record and export documents from the concerned shipping agency and the terminal operator, which confirmed the discrepancy in the value of the goods.
The Collectorate has started proceeding against the importer and the clearing agent for evading duty and taxes and causing loss to the national exchequer. The value of the offending goods is worked out as Rs. 35,636,422/-, which is recoverable from the importer along with penalties and fines. The Collectorate has also started investigations to detectrth any other modus operandi of evasion of duty on import of submersible motors.
