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SHC issues notices to customs against additional tax on hot-rolled alloy steel wires rods

SHC issues notices to customs against additional tax on hot-rolled alloy steel wires rods

KARACHI: The Sindh High Court (SHC) has issued notices to the Customs Department and deputy attorney general on a constitutional petition filed by M/s Al-Majeed Ibrahim Steel Industries (Private) Limited and M/s Ibrahim Nizami Steel Industries (Private) Limited against additional charges of 5 percent and further US$66/MT on consignments of hot-rolled alloy steel wires rods imported from China.

During the hearing of matter, a division bench, headed by Justice Munib Akhtar, also directed them to file their respective para wise comments on the next date of hearing.

Earlier, counsel for the petitioners stated that petitioners imported the above mentioned goods from China and filed the goods declaration accordingly. However, they are seriously aggrieved by the unlawful formula under captioned valuation ruling by addition of 5 percent and further addition of US$66/MT for which, no any cogent and plausible reasons have been given by the respondents.

He argued that respondents are bent upon to assess the same grounds as per formula, provided vide Valuation Ruling No 693-2014 by taking price for London Metal Bulletin and unlawful and arbitrary addition of 5 percent and further addition US$66/MT.

Citing Chairman Federal Board of Revenue, Secretary Revenue Division, Collector of Customs Collectorate Appraisement Port Muhammad Bin Qasim,  Collector of Customs Collectorate Appraisement East and Collector of Customs Collectorate Appraisement West and respondents, they pleaded the court to declare that act of the respondents as illegal, mala fide and arbitrary, counsel further pleaded the court to set aside impugned valuation of addition 5 percent further addition US$66/MT and restrain them from taking any coercive action against the petitioner till final order in this petition.