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Customs Audit unearths Rs41.43m revenue loss due to irregular exemption of SROs

Customs Audit unearths Rs41.43m revenue loss due to irregular exemption of SROs

 

 

KARACHI: The Directorate General of Internal Audit-Customs in its contents of audit paras, which have been sent to the Model Customs Collectorate-MCC of Appraisement (East) has pointed out Rs41.43 million of revenue loss due to irregular exemption of SROs and valuation rulings.

According to details, the Directorate General of Internal Audit-Customs in its audit observations during the period of July 2013 to June 2014 has found that the MCC-Appraisement (East) has cleared the different consignments of steel, pharmaceuticals, rubber, plastic and others at concessionary rates.

During the clearance of that said consignments, the importers have availed undue advantages of SROs and damaging the national exchequer at large extent. Sources informed Customs Today that the observations regarding the audit paras have been sent to the authorities concerned of the MCC-Appraisement (East) and the R&D Section of the MCC-Appraisement (East) has evolved a strategy to recover the leaking revenue.

It is pertinent to mention here that the Directorate General of Internal Audit-Customs has already sent the audit paras pointed out the recoverable amount of Rs15million in term of clearance of steel billets. However, the authorities concerned of MCC-Appraisement (East) have not taken any step yet in order to recover that amount which was indicated by the Internal Audit-Customs.