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Home Breaking News

Tax evasion: Investigation officer submits progress report against M/s Prime Steel & others in Customs Court

byM.B. Rana
03/06/2021
in Breaking News, Karachi, Latest News
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KARACHI: Investigation officer of Collectorate of Customs Appraisement & Facilitation Port Muhammad Bin Qasim (PMBQ) has submitted progress report before the customs court against owners, proprietors, partners of M/s Prime Steel and others including clearing agents, who were nominated in first information report (FIR) for evasion of duty and taxes in the tune of Rs50.313 million.

On 3 June 2021, during the hearing, investigation officer appeared before the court and submitted progress report and informed the court that above mentioned importer got cleared 22 consignments from MCC Port Muhammad Bin Qasim, declared inter alia to contain amongst other items, huge quantities of Iron & Steel Re-meltable scrap and ferro silicon manganese.

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He further submitted that during the investigation, on the basis of finding of IRS authorities, this Collectorate forwarded the post-dated cheques to the concerned banks for encashment thereof, however, the same have been returned/ bounced back by the bank, this reveals that the consignments were fraudulently cleared against fake/ false securities knowingly and willfully to hoodwink the authorities from charging/ collecting government revenue otherwise leviable at the import stage due to non-availability of any manufacturing facility.

Investigation officer added that aforesaid illegal and fraudulent action of the importer and their associates in crime constitutes an offence within the meaning of section 32 (1), 32(2), 32A (I), 79 (I), 192 and 209 of the customs act, FIR is lodged accordingly, and further investigation is in progress.

Tags: Customs CourtM/s Prime Steel

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