KARACHI: Directorate of Post Clearance Audit (PCA) Karachi has served Audit Observation on M/s Premier Cables Pvt Limited creating a demand of Rs40.514 million, an amount, which was short-paid by the company.

During the audit of import data related to imports/clearances of “Copper Rods/Strips in coils’ correctly classifiable under PCT heading 7408.1100 chargeable to customs Duty of 10 percent, it has been observed that certain importers are clearing these goods by mis-declaring the same under PCT heading 7407.1020 chargeable to customs Duty of 5.0 percent, in order to evade duty/taxes.

M/s. Premier Cables (Pvt.) Ltd imported 33 consignments of ‘copper rods in coils/rolls’ and cleared the same from MCC Appraisement (West) and MCC Appraisement (East) Karachi and MCC PaCCS through their clearing agent M/s MACSONS ONB-B by willfully and knowingly misdeclaring the goods under PCT Heading 7407.1020 chargeable to CD 5.0 percent however, copper rods in coils/rolls are correctly classifiable under PCT heading 7408.1100 chargeable to CD 10 percent.

By way of mis-declaration of classification, M/s Premier Cables with active connivance of clearing agent M/s MACSONS evaded a total of Rs40.514 million. A Contravention Report to this effect has been served on the accused in this regard.