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PCA detects tax evasion of Rs11.42m by M/s Samama Leather Manufacturer & Export

PCA detects tax evasion of Rs11.42m by M/s Samama Leather Manufacturer & Export

KARACHI: The Directorate of Customs Post Clearance Audit (PCA) Director Nadeem Memon detected duties and tax evasion of Rs 11.42 million by M/s Samama Leather Manufacturer & Export, it is learnt here.

Sources told Customs Today that M/s Samama Leather Manufacturer & Export, Karachi imported a consignment of leather punching machinery, and different chemicals, got it cleared from the QICT Karachi vide GDs 7058 on December 19, 2017 by paying customs duty at 10 percent after claiming the benefit of the SRO 558/2007.

However, the subject items were correctly classifiable under the PCT 2547.2508  attracting customs duty at 16 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 11.42  million. The goods were cleared by Appraiser Qadeer Shabbir.

Sources told that the importer violated the provisions of Section 58 (7-A) of the Customs Act-1969, Section 28  read with Section 48 of the Sales Tax Act-1990 and Section 69 of Income Tax Ordinance 2001 punishable under clauses (45) of Section 27(8) of the Customs Act-1969, Section 56 of the Sales Tax Act-1990 and Section 63 of Income Tax Ordinance 2001 and Section 3-B of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.

Source said that currently PCA investigating tax evasion cases against Naeem Salman Fabrics. The consignment was cleared in the month of November 2017.