PCA Karachi expedites revenue recovery
KARACHI: The Directorate of Post Clearance Audit (PCA) Karachi has detected a huge amount of duty and tax evasion and made a part recovery.
During the audit of import clearances made under different SROs, PCA found that M/s Packages Limited Lahore imported six consignments of plain polyester film 12 micron outside corona and mis-declared the PCT heading to claim the concessionary rate of duty/taxes under SRO 659(I)/2007.
PCA calculated that M/s Packages Limited evaded a total of duty and taxes 17.826 million. A contravention report has been served on the company in this regard.
Meanwhile, an amount of 0.227 million was recovered from M/s Polytech International Lahore, while an Audit Observation for the recovery of Rs0.744 million was served on M/s Royal Polytex Industries Pvt Limited.
Both the companies had imported consignments of coated/treated calcium carbonate falling under PCT 3824.9099 chargeable to CD of 10 percent and cleared the consignments by mis-declaring the PCT 3824.9094 chargeable to CD of 5.0 percent.
This way by way of mis-decalration, M/s Royal Polytex Industries (pvt) Limited evaded a total of duty/taxes of Rs0.744 million.
M/s Polytech International Lahore had evaded total revenue of Rs0.227 million, which PCA Karachi has recovered.