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Customs Port Qasim unearths tax evasion of Rs 5.4m by M/s Malik Steel Re-Rolling Mills

Customs Port Qasim unearths tax evasion of Rs 5.4m by M/s Malik Steel Re-Rolling Mills

KARACHI:  Collectorate of Customs Port Qasim has registered a case against a prominent steel company for evading over Rs 5 million taxes and duties and defrauding the government in import of scrap, Customs Today has learnt through sources.

According to the information received from Port Qasim, Collector Saeed Akram received information that M/s Malik Steel Re-Rolling Mills, Mominpura, Lahore imported remittable iron scrap consisting of eight containers and the consignments were declared totally filled with iron scrap by hoodwinking the customs staff.

A team comprising Deputy Collector Ahsan Ullah Shah, Appraiser Anwar Zaib and Rana Ansaram Rabbani of the Customs Investigation Unit of Port Qasim unearthed the tax evasion.

The consignments were examined. According to the GD, the value of taxes and duties were around Rs 1 million but on thorough examination, it was revealed that some complete stuff was being tried to be cleared in the garb of scrap causing Rs 5.4 million losses to the government exchequer.

Thus, a contravention report was prepared and two importers and their clearing agent namely M/s Jam International have been nominated in the case for recovering the evaded amount and for further legal proceedings.