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Faisalabad Customs uncovers Rs01.5m tax evasion by M/s Al Rehmat Traders

Faisalabad Customs uncovers Rs01.5m tax evasion by M/s Al Rehmat Traders

FAISALABAD: The Model Customs Collectorate (Mcc) Faisalabad has detected evasion of customs duty and income tax of Rs01.5million by Reliance M/S Al-Rehmat Traders (Pvt) Limited Faisalabad.

Sources told Customs Today that M/s Al-Rehmat Traders (Pvt) Limited Faisalabad has neither made any import of input goods under chapter XV-Warehousing of Customs Rules 2001 notified vide SRO. 450 (1) 2001 dated 18-6-2001 nor has exported any consignment of output goods. The licensee has furnished an undertaking in this regard. Further the PRAL data, retrieved for the period from 1-7-2013 to 31-10-2016, has showed the fact that the licensee has not imported any consignment of input material during the period under audit.

It is observed that the licensee has not utilized the license since 1-7-2013 and the license has expired since 30-8-2014 as per Rule 344 of the Customs Act-2001.

The audit report revealed that the licensee has deposited the due amount of during the manufacturing process during the period. But licensee has failed to deposit an amount of Rs01.5million.

The Model Customs Collectorate Faisalabad has audited the report as enclosed with this contravention case.