KARACHI: Directorate of Customs Post Clearance Audit on Tuesday detected duties and tax evasion of Rs11.82 million by M/s Mattni Steel Works, Gharoo, it is learnt here.
Sources told Customs Today that M/s Mattni Steel Works, Gharoo imported consignments of steel sheets and different type of scrape, damage steel nut bolts and got it cleared from QICT Karachi on 29th November, 2017, by paying customs duty at 8 percent after claiming the benefit of the SRO 552/2007.
However, the subject items were correctly classifiable under the PCT 2548.3804 attracting customs duty at 12 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short paid Rs11.82 million. The goods were cleared by Examiner Sarwar Aiwan.
Sources told that the importer violated the provisions of Section 85 (3-A) of the Customs Act-1969, Section 22 read with Section 78 of the Sales Tax Act-1990 and Section 13 of Income Tax Ordinance 2001 punishable under clauses (548) of Section 12(3) of the Customs Act-1969, Section 4 of the Sales Tax Act-1990 and Section 69 of Income Tax Ordinance 2001 and Section 2-B of the Sales Tax Act-1990 read with chapter Y 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.