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PCA detects tax evasion of Rs 8.27m by M/s Subaro Industries Gharo

PCA detects tax evasion of Rs 8.27m by M/s Subaro Industries Gharo

 

KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 8.27 million by M/s Subaro Industries, Gharo, it is learnt.

Sources told Customs Today that the company imported a consignment of different chemicals for onward use in paints and printed material and got it cleared from the Port Qasim Karachi vide GDs on July 8, 2017 by paying customs duty very low at 8 percent after claiming the benefit of the SRO 571/2007.

However, the subject items were correctly classifiable under the PCT 2789.2109, attracting customs duty at 12 percent and income tax at 14 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 8.27 million. The goods were cleared by Appraiser Wajahat Kazmi.

Sources said that the importer violated the provisions of Section 16 (5-A) of the Customs Act-1969, Section 42  read with Section 52 of the Sales Tax Act-1990 and Section 89 of Income Tax Ordinance 2001 punishable under clauses (148) and 124 of Section 24(3) of the Customs Act-1969, Section 18 of the Sales Tax Act-1990 and Section 25 & 45 of Income Tax Ordinance 2001 and Section 9-A 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. It is necessary to mention here that Directorate of Post Clearance Audit will audit 13 more cases during the month of April.