KARACHI: The Directorate of Post Clearance Audit (Customs) has advised the M/s Pakistan State Oil (PSO) to submit Rs36.285 million in the national exchequer as it was short paid by the state oil company on the import of high speed diesel oil.

On scrutiny and audit of import data PCA found that M/s Pakistan State Oil (PSO) imported seven consignments of High Speed Diesel Oil in the last four years under PCT heading 2710.1931 and availed the concessions of SRO 567(1)/2006.

The Statuary rate of Custom Duty against PCT heading 2710.1931 is 10 percent however after allowing concessions of SRO 567(l)/ 2006 as claimed the payable rate of Custom Duty is at the rate of 7.5 percent. The PSO paid Custom Duty on lower side on the above mentioned consignments at the rate of 7.5 percent, which has resulted in short levy of Custom duty to the tune of Rs. 36.285 million.

PCA Customs has advised PSO to deposit the short levied amount in the national exchequer.

However, in case PSO is of the opinion that the above finding is incorrect or that the short paid amount has been erroneously calculated or it has already been deposited, PSO may provide a self-explanatory written reply with viable documentary evidences and complete set of import documents.