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Home / Lahore / Post Clearance Audit unearths Rs 2,883,677 tax evasion by M/s Grace Chemicals
Post Clearance Audit unearths Rs 2,883,677 tax evasion by M/s Grace Chemicals

Post Clearance Audit unearths Rs 2,883,677 tax evasion by M/s Grace Chemicals

LAHORE: Directorate of Post Clarence Audit (PCA) has detected Rs 2,883,677 duty and tax evasion by M/s Grace Chemicals, Circular Road Lahore on account of inadmissible exemption of SRO 567 (I) 2006 and SRO 1007 (1)/ 2005.

According to details, the Directorate of Post Clearance Audit Lahore observed that certain importers having their principal activity of manufacturer of pesticide and other agrochemicals are involved in the evasion of duties and tax during customs clearance of zinc sulphate 33 percent which are classified under PCT heading 2833, 2940 by availing irregular exemption of customs duty under S No 4 of SRO567 (1)/2006 and exemption of sales tax S NO 5 of table-II of SRO 1007 (I) 2005. The PCA observed that the said SROs were meant for poultry ingredients only.

It was observed that M/s Grace Chemical has imported consignment of the aforesaid impugned goods which were prima facie are fertilizers and as such not entitled for the exemption of customs duty and sales tax under the said SROs during calendar year 2014.

The PCA said that the mis-declaration resulted in the duty and taxes evasion to the tune of Rs 2,883,677 by and added that it is directed that the above mentioned short paid amount of duty and taxes may be deposited positively.