KARACHI: The Directorate of Post Clearance Audit (PCA) has created a demand of Rs17.428 million, which is recoverable from M/s Agro Processors & Atmospheric Gases, as it was evaded through misuse of concessionary SRO.
According to the details, scrutiny / audit of import data revealed that M/s Agro Processors & Atmospheric Gases (Private) Limited imported “RBD PALM OLEIN” through MCC Port Muhammad Bin Qasim imported from Malaysia.
The importers claimed benefit of SRO 450(1)/2001. The imported goods are not covered under the claimed SRO and under the zero rating concessions of income Tax Ordinance 2001.
Therefore, M/s Agro Processors & Atmospheric Gases (Private) Limited, are liable to pay short paid amount which comes to Rs17.428 million.
PCA has directeded the importers to deposit the short levied amount in the national exchequer within 10 days.
Director PCA Karachi Gul Rehman has made the Directorate a vibrant formation and a number of cases involving billions of rupees of revenue have been made.