KARACHI: The Collectorate of Customs Adjudication-I has served a show-cause notice on M/s Lotus Lahore for tax evasion of Rs 12.1 million.
According to details, the Post Clearance Audit – Karachi, found that M/s Lotus imported “Logic Integrated Circuit Board with Processor LCD with all standard accessories” under PCT heading 8538.9090 through MCC Appraisement (West) at a declared unit value of $2.25 per piece and $2.0 per piece from China.
However, it is evident from the history of the importers that a case of under valuation of the identical item from the same origin and same supplier has been found and adjudicated vide Order-in-Original No. ONO – 135705 – 10102013 on the basis of invoice found in the container at the time of examination, showing unit value at the rate of $5.5 per piece and the goods were assessed and cleared by the importers on the found value.
Further the importer have claimed the assessment under PCT heading 8538.9090 subjected to custom duty at the rate of 15% which is not correct. The correct PCT heading is 8537.1090 where leviable custom duty is at the rate of 25%.
Collector Adjudication-I Dr Wasif Memon has issued a show cause notice to M/s Notus, Lahore asking the management to appear in person or by legal counsel to justify their position.