M/s Notus advised to pay short-paid duty/taxes

KARACHI: The Directorate of Post Clearance Audit (PCA) Karachi has served an Audit Observation on M/s Notus advising the company to deposit Rs12.126 million in the national exchequer as this amount was evaded pertaining to the imports of integrated circuit board.

Scrutiny / audit of import data conducted on the directives of Director Gul Rehman, it was found that M/s Notus, imported “Logic Integrated Circuit Board with Processor LCD with all standard accessories” under PCT heading 8538.9090 through MCC Appraisement (West) at a declared unit value of $ 2.25 per piece and $2.0 per piece from China.

The Audit Observation notes it is evident from the history of importers that a case of under valuation of identical item having same origin and supplier was adjudicated on the basis of invoice found in the container at the time of examination, which showed unit value at $5.5 per piece and the goods were assessed and cleared by the importers on the found value.

Further the importer have claimed the assessment under PCT heading 8538.9090 subjected to Custom Duty at the rate of 15 percent which is not correct. The correct PCT heading is 8537.1090 where leviable Custom Duty is 25 percent.

Thus, M/s Notus is required to pay Custom Duty at the rate of 25 percent instead of 15 percent at the value of$ 5.5 per piece. The company has been found to have short-paid a total of Rs12.126.

In case, M/s Notus, Lahore are 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, the company is advised to provide a self-explanatory written reply with viable documentary evidences and complete set of import documents.

Print Friendly, PDF & Email
Bookmark the permalink.

Comments are closed.