LAHORE: Directorate of Post Clearance Audit (PCA) recovered over Rs26 million on account of duty and taxes from the M/s Pak Elektron Limited along with a penalty of Rs1,10,000, it is learnt.
As per documents available with Customs Today, PCA Lahore on information through Director Rauf Ahmad, Post Clearance Audit, Lahore came to know that M/s Pak Elektron Limited, 14-KM, Ferozepur Road, Lahore, obtained DTRE approval no. KCUS/47/29012016 dated 29.01.2016 from Customs Lahore, to import different parts of power transformers under DTRE scheme but raw materials of the duty and tax free imported input goods had not been consumed in the production of exported goods by the DTRE user.
DTRE audit team comprising Deputy Director Tauqeer Ahmad Dar, Audit Officer Arshad Malik, and Audit Officer Muhammad Jamil in the supervision of Saadia Munib, Additional Director was hereby constituted for conducting the audit of said DTRE approval in terms of DTRE Rules enacted vide SRO No. 450(I)/2001 dated 18.06.2001.
The PCA observed that the DTRE user applied for DTRE facility on the basis of international tender. The application of the user was approved by the regulatory authority vide notification no. KCUS/47/29012016 dated 29.01.2016.
Accordingly, the DTRE user intended to import different parts of power transformers for manufacturing and export of power transformers, it was said.
The documents said that during scrutiny of record of approval no. KCUS/47/29012016 dated 29.01.2016, as provided by the DTRE user a number of discrepancies including unaccounted for un-exported goods were detected, excess material was imported without authorization, material was imported without authorization and reconciliation statement was late submitted.
Accordingly, the documents said that audit observation was served vide letter no. PCA/ LHR/DTRE/10/2016/104/330 dated 16-03- 2017, directing therein to provide written clarification of the aforementioned audit findings.
The DTRE user was agreed to deposit the recoverable amount of duties and taxes amounting to Rs. 26,133,011/ (amounting to Rs808,993 is excess due to inadvertence) along with penalty of Rs110,000.
Finally the sources said that the PCA Lahore has recovered the amounts of duty and taxes by way of DTRE by the company.
When this scribe tried to contact the management of the company they were not available to comment their point of view.