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Customs Export recovers Rs 7.4m from defaulter companies

Customs Export recovers Rs 7.4m from defaulter companies

KARACHI: The Customs Export has recovered evaded amount of taxes and duties of Rs 7.4 million from defaulter companies which were issued with notices to pay the outstanding dues and issued first show cause notice in 2018.

Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Boulevard Embroidery availed undue benefits and concessions by importing different consignments by misusing the SRO 566 through Examiner Raheel Waris. Sources said that the company was allegedly involved in tax evasion of Rs 4.12 million.

After detecting the tax evasion, the Customs Export issued it with a final notice on December 18, 2017 to deposit the evaded amount within 14 days.

After receiving the notice, the management of M/s Boulevard Embroidery deposited the evaded amount in the official account of the Customs Export on 2nd January.

On the other hand, the management of the M/s J S Traders Karachi also cleared Rs 3.28 million of taxes and duties. Sources told the correspondent that M/s JS Traders Karachi 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 December 12, 2017. After receiving the notice, the management of the M/s JS Traders Karachi deposited the evaded amount of taxes. Earlier Customs Export has issued first show cause notice to M/s Hudaiba Fabrics for recovery amount of Rs5.30 million.