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Customs Export retrieves Rs10.45m from two defaulter companies by issuing notices

Customs Export retrieves Rs10.45m from two defaulter companies by issuing notices

KARACHI: Collector Customs Export Saqif Saeed has said that we are investigating two defaulter companies namely Fari Associates and Muneeb Auto Parts again.

The collector said these companies exported some consignments seven months ago. Before sending notices to them, the collector export will check documents and send them show cause notices.

On the other hand, Customs Export has served show cause notices on two defaulter companies and recovered evaded amount of taxes and duties of Rs10.45million.

Sources told Customs Today that, during a scrutiny of the import data, it was revealed that M/s Naveed Pana Makers availed undue benefits and concessions after importing different consignments of various tool sets by misusing the SRO 560 through Examiner Saleem Aiwan on December 5, 2017. Sources said that the company was allegedly involved in the tax evasion of Rs6million.

After detecting the tax evasion, the Customs Export served on it a final notice on March 22, 2018 to deposit the evaded amount within 14 days. After receiving the notice, the management of M/s Naveed Pana Makers deposited the evaded amount into the official account of the Customs Export on 9th of April, 2018.

On the other hand, the management of the M/s Uzair Studio also cleared Rs4.45million of taxes and duties. Sources told CT that the M/s Uzair Studio 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 March 24, 2018. After receiving the notice, the management of the M/s Uzair Studio deposited the evaded amount of taxes into the official account.