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Faisalabad Customs Audit Cell uncovers tax evasion of Rs40m by M/s Power Chemicals

Faisalabad Customs Audit Cell uncovers tax evasion of Rs40m by M/s Power Chemicals

FAISALABAD: The Model Customs Collectorate (MCC), Audit Cell, Customs Dry Port Faisalabad, detected a duty and tax evasion worth Rs40million involving duty and taxes of Rs13million by M/s Power Chemical Industries, Jaranwala Road, Faisalabad by misusing the facility of SRO(1)/2001 through its License No: 12/Mgf/Fsd/2016.

Sources told Customs Today that the said Audit Cell team, consisting Inspectors Ghulam Murtaza Anjum and Asif Hussain, was constituted under the supervision of Appraiser Faiz Muhammad Awan. The audit team, during a surprise visit of the said unit for physical stock taking, found a quantity of 45,000-kg Ethyel Hexanol in godown and 56,000-kg finished goods (DOP) in the manufacturing area.

As per documents provided by licensee, a quantity of 540,000-kg phthalic anhydride and 792,500-kg Ethyle Hexanol had been imported under the SRO 450(1)/2001 dated 18-06-2001.Out of the said quantity, the company had exported 270,660-kg of Phthalic anhydride and 474,960-kg of Ethyle Hexanol.

After aggregating the exported quantity as well as the quantity utilized in the finished goods, a quantity of 249,012 of phthalic andried and 236,868-kg of Ethyle Hexanol was found short as the same had been removed illegally from the premises of the bonded warehouse by the licensee.

Furthermore, it is clear that the licensee has willfully misused the facility of SRO 450(1)2001 causing the government exchequer a loss. The licensee has committed a grave breach of term and condition of the license and absolutely failed to discharge his legal obligations and committed the contravention of section 18, 19 and 32 of the Custom Act-1969.

The contravention report has been submitted to the Deputy Collector (DC) Bond MCC Faisalabad for onward submission to the Collector of Customs Adjudication.