Post Clearance Audit detects duty/tax evasion of Rs29.305 million by Fatima Fertilizer

KARACHI: Directorate of Post Clearance Audit has detected evasion of customs duty and other taxes by M/s Fatima Fertilizer Company Limited to the tune of Rs29.305 million on account of availing inadmissible benefit of SRO 575(I)/2006.

The Directorate headed by Gul Rehman has prepared three contraventions and forwarded the same for adjudication proceedings.

On the directives of Director Gul Rehman, the Post Clearance Audit Karachi conducted scrutiny of import data of M/s Fatima Fertilizer Company, which revealed that the company imported several consignments of steel pipes, multi-core electricity cables, welding wires, machinery parts and spares etc and got them cleared availing inadmissible exemption of Customs Duty as in excess of 5.0 percent under SRO 575(I)/2006 while the imported goods did not fall within the ambit of plant, machinery, equipment spares & accessories required for manufacture or production of any good.

The imported goods were not covered under the concessionary SRO and were subject to statutory rate of Customs duty, sales tax and withholding tax.

Thus an amount of Rs29.305 million has been short-paid/evaded by M/s Fatima Fertilizer company.

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