KARACHI: The Customs Export recovered evaded amount of taxes and duties of Rs 6.53 million from M/s Ghufran Associates and another company M/s Mam Bae Traders.
Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Ghufran Associates availed undue benefits and concessions by importing steel scrap misusing the SRO 562. The consignment was cleared through Examiner Allah Baksh on December 11, 2017.
Sources said that the company was allegedly involved in tax evasion of Rs 4.28 million. Investigations were started after detecting the tax evasion and the Customs Export issued a final notice on 1st June, 2018 to deposit the evaded amount within 14 days.
After receiving the notice, the management of M/s Ghufran Associates deposited the evaded amount in the official account of the Customs Export on June 19th, 2018.
While the management of M/s Mam Bhae Traders also cleared the outstanding amount of Rs2.25 million of duties and taxes. Sources said that M/s Mam Bhae Traders also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.
The Customs Export authorities served on it a final notice on 4th June, while the management of M/s Mam Bhae Traders deposited the evaded amount of taxes on 19th June, 2018.