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FBR directs LTU to recover Rs24.626m from tax defaulters

FBR directs LTU to recover Rs24.626m from tax defaulters

ISLAMABAD: The FBR has ordered the Large Taxpayer Unit,t Karachi to recover the total amount Rs24.626 million including default surcharge and penalty.

According to a report, a comparison of monthly sales tax returns with the annual audited accounts and income tax returns and inventory record revealed that nine registered persons of the Collectorate of Sales Tax (Audit) and LTU Karachi, declared their total sales in monthly sales tax returns lower than the declared amount in the annual audited accounts and income tax returns.

This concealment of sales resulted in short payment of sales tax of Rs19.079 million which also attracts penalty of Rs4.369 million and default surcharge of Rs1.178 million, raising the recoverable to Rs24.626 million during the period from 2016 to 2017.

The lapse was pointed out to the Collectorate and the FBR during June, 2017 to May, 2018. In the Departmental Accounts Committee meetings held in May/August, 2018, it was reported that six cases were under adjudication while no reply was furnished by the large tax payer unit in three cases.

The DAC directed the department to finalize adjudication within the stipulated time and to submit replies to audit within a month. FBR also directed the concerned authorities to hold the accountable those who are responsible for delay in recovery of the amount.