M/s Medequips served Contravention for fraud

KARACHI: MCC Appraisement East has detected large scale revenue evasion through under-invoicing og medical equipment X-Ray system by M/s Medequips (SMC) Pvt Ltd and served a Contravention Report on the importer.
M/s Medequips imported a consignment declared to be X-Ray System with all accessories at a declared cost of $24,000 i.e. $4,000/unit and sought clearance. In order to determine whether the importer had paid the duty and taxes correctly, the consignment was marked for examination.
The examination team did not find the invoice inside the container and the goods were found to be six units of Canon brand X-Ray systems with all accessories.
Sources that the importer was importing this product and several other equipment since long and they had been under-invoicing since long cuasing huge revenue loss to the national exchequer.
Principal Appraiser Hamood-ur-Rehman detected the case as he had received details of identical goods importef by Health Department Punjab, which cost $34,000/unit while M/s Medequips (SMS) Pvt Ltd had declared the cost of goods at $4,000.
It was established that the importer intentionally miseclared and concealed the value of the goods to evade government revenue to the tune of Rs6.7 million.
On the directives of Collector Appraisement East Saeed Akram, a contravention report has been served on the importer. Saeed Akram also advised R&D to scrutinize the past import data of M/s Medequip. An official said over 10 GDs had been identified wherein importer might have committed under-invoicing.
Sources said this was a very high profile case and there was likelyhood that NAB might get involved in the investigations.

Print Friendly, PDF & Email
Bookmark the permalink.

Comments are closed.