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Customs Export recovers Rs 7.95m from M/s Nadeem Fabrics & Exports

Customs Export recovers Rs 7.95m from M/s Nadeem Fabrics & Exports

KARACHI: The Customs Export has recovered evaded amount of taxes and duties of Rs 7.95 million from defaulter companies which were issued with notices to pay the outstanding dues and issued third show cause notice in 2018.

Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Nadeem Fabrics Manufacture and Export availed undue benefits and concessions by importing different consignments by misusing  SRO 567 through Examiner Raheel Waris. Sources said that the company was allegedly involved in tax evasion of Rs 3.45 million.

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

After receiving the notice, the management of M/s Nadeem Fabrics manufacture and Export deposited the evaded amount in the official account of the Customs Export on 5 January.

On the other hand, the management of the M/s Bawela and Sons Karachi also cleared Rs 4.50 million of taxes and duties. Sources told the correspondent that M/s Bawela and Sons 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 22, 2017. After receiving the notice, the management of the M/s Bawela and Sons Karachi deposited the evaded amount of taxes.

Source told more than 15 cases are in under investigation.  Earlier Customs Export has issued third show cause notice to M/s Zoobia Textile for recovery amount of Rs 3.78 million.