KARACHI: The Directorate of Post Clearance Audit (PCA) Customs has served an Audit Observation to M/s IBL Operations Pvt Limited pertaining to evasion of duty and taxes of Rs24.464 million through mis-declaration.

As per details, scrutiny of import data of M/s IBL Operations (Private) Limited, found that they imported consignments of Pringles Snack and cleared the same from MCC Appraisement (West) and MCC Appraisement (East), Karachi through their clearing agent M/S Anwar Asghar Bros.

In order to avail concessionary benefit of FTA under SRO 1261(I)/2007 the importer mis-declared the goods under PCT heading 2004.1000 attracting Customs Duty of zero percent whereas the goods are correctly classifiable under PCT heading 1905.9000 chargeable to Customs Duty at 20 percent.

Thus M/s IBL Operations by mis-declaration of classification have evaded duty and taxes Totaling Rs24.464 million.

PCA Customs has advised M/s IBL Operations to pay the short paid amount of duty/taxes within 10 days.