KARACHI: The Customs Exports has recovered evaded taxes and duties amounting to Rs 23.84 million from three companies which were issued notices to pay outstanding dues.
Sources told Customs Today that during scrutiny of the import data, it was found that M/s SMB Associates availed undue benefits and concessions by importing different consignments and misusing SRO 567.
The company founded involved in tax evasion of Rs 14.56 million. After detecting tax evasion, the Customs Exports issued them final notice to deposit evaded amount within seven days. After receiving the notice, the management of M/s SMB Associates deposited the evaded amount.
On the other hand, the management of M/s Mitthal Fertilizers and Feed Company Gharo also cleared Rs 6.30 million of taxes and duties. Sources said that M/s Mitthal Fertilizers & Feed Company also availed undue benefits and concessions and avoided to pay taxes according to customs law. Customs Exports authorities issued them final show cause notice, after receiving the notice the management of Mitthal Fertilizers & Feed Company Gharo deposited the evaded amount of taxes.
Sources said that Customs Exports also recovered 2.98 from M/s Nasir and Company. The company availed undue benefits and concessions by importing two consignments of different chemicals. After receiving the notice the management of M/s Nasir and company cleared the amount.