China Gezhouba Group Company caught evading government revenue through under-invoicing

KARACHI: The Directorate of Customs Intelligence and Investigation Karachi detected large scale tax evasion by M/s. China Gezhouba Group Company Limited, and recovered the evaded sum.

[the_ad id=”31605″]Information was received through Director Irfan Jawed that M/s. China Gezhouba Group Company Limited were attempting to clear the goods declared as Machinery Equipment and goods for 874MW Suki Kinari Hydro Power Project IPP Naaran-Kagan Valley, Color Steel Portable Douses- of China origin.

The goods as per the Invoice / Packing list had description “Color Steel Portable Houses. The subject goods attracted (CD (@ 20%. ST @ 17, ACD @ 2%. IT @ 5.50%).

On scrutiny of the matter, it transpired that the declared and processed value was US$ 1.57/kg against the evidential unit value of US$2.21/kg on similar regular clearances.
The consignment of afore referred GD was blocked at “assigned to gate out- stage.

Subsequent to the detection of underinvoicing and detention of the goods the clearing agent deposited a pay orders amounting to Rs7.76 million covering differential amount of duty & taxes.

The Pay Orders were forwarded to Collectorate of Customs MCC Appraisement (East) Karachi for re-assessment of goods and deposit of recovered amount in Government Exchequer.

The evaded amount has been recovered from M/s. China Gezhouba Group Company Limited as differential amount in duties & taxes. Further scrutiny of the past clearances of the impugned importer is underway.

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