KARACHI: The MCC Port Qasim has referred Post-Release Verification (PRV) to scrutinize all imports of thermoplastic rubber compound, as mis-declaration of classification has been detected pertaining to the imports of these goods.
Deputy Collector Imran Lilla, Principal appraiser Sultan Aurungzaib detected gross mis-declaration of classification on an import being processed by Customs Agent M/s Pervez Umar Enterprises. The case was pursued under the supervision of Collector Surraya Ahmed Butt and Additional Collector Shafqat Niazi and recovery was effected.
For the GD No. KPPI-HC-56286-07-05-2015, the importer and agent had declared the PCT for the goods as 4002.9900 attracting Customs duty 1.0 percent, sales tax 2.0 percent and income tax at 1.0 percent. However the assessment staff found the goods correctly classifiable under PCT 4005.9900 attracting customs duty 10 percent, sales tax 17 percent and income tax 5.5 percent.
The importer and agent had calculated leviable revenue of Rs0.144 million while the Customs assessment found it to be Rs1.059 million.
The issue has been referred to PRV to scrutinize and analyze the past GDs pertaining to the similar PCT, importers and agents to identify revenue leakage.