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M/s Nisar Traders served show cause notice for tax evasion

M/s Nisar Traders served show cause notice for tax evasion

KARACHI: The Collectorate of Customs Adjudication-II has issued a show-cause notice on Tuesday against M/s Nisar Traders in connection with the tax evasion of Rs3.58million of Additional Sales Tax (AST) and Income Tax of Rs241258 by misusing the SRO 1125 (I) 2011.

Importer M/s Nisar Traders on its import of fabric folding machines and parts evaded the said tax on December 21 2017 worth Rs3.58million through Goods Declarations (GDs) KAPE-HC-24578-14578547, violated Section 3,4,8,7A,8 (2b),42,43 and 76 of the Sales Tax Act-1990, further read with Section 148 of the Income Tax Ordinance-2001, punishable under clauses (16) of Section 156 (1) of the Customs Act-1969 read with Section 56 and 58 of the Sales Tax Act-1990.

Directorate of Intelligence & Investigation-Customs Karachi, in its contravention report, stated that the said importer misused SRO 1125 (I)/2011 by clearing imported fabric folding machines and parts whereas their manufacturing units did not exist on the notified business addresses, so they caused the national exchequer a big loss.

The non-existence of the unit was an ample proof to establish beyond any doubt that the importer’s previous clearance as industrial manufacturer under SRO 1125(I)/2011 were quite illegal and unlawful.