BR100 Decreased By (-1.39%)
BR30 Decreased By (-1.72%)
KSE100 Decreased By (-1.3%)
KSE30 Decreased By (-1.25%)
AGHA 7.92 Decreased By ▼ -0.17 (-2.1%)
BECO 5.20 Decreased By ▼ -0.07 (-1.33%)
BML 59.25 Decreased By ▼ -0.13 (-0.22%)
BOP 33.68 Decreased By ▼ -0.51 (-1.49%)
CNERGY 9.81 Increased By ▲ 0.19 (1.98%)
CSIL 5.42 Decreased By ▼ -0.08 (-1.45%)
FCCL 53.52 Decreased By ▼ -0.63 (-1.16%)
FFL 16.68 Decreased By ▼ -0.16 (-0.95%)
FNEL 1.21 Decreased By ▼ -0.02 (-1.63%)
KEL 7.35 Decreased By ▼ -0.24 (-3.16%)
KOSM 5.61 Decreased By ▼ -0.07 (-1.23%)
LOTCHEM 29.11 Decreased By ▼ -1.32 (-4.34%)
MLCF 95.50 Decreased By ▼ -2.66 (-2.71%)
NBP 204.35 Decreased By ▼ -4.44 (-2.13%)
NCPL 58.24 Decreased By ▼ -1.37 (-2.3%)
NPL 67.79 Decreased By ▼ -2.08 (-2.98%)
OGDC 317.94 Decreased By ▼ -5.42 (-1.68%)
PACE 10.71 Decreased By ▼ -0.36 (-3.25%)
PAEL 41.83 Decreased By ▼ -0.42 (-0.99%)
PIBTL 16.50 Decreased By ▼ -0.32 (-1.9%)
PPL 219.74 Decreased By ▼ -4.99 (-2.22%)
PRL 44.59 Increased By ▲ 2.94 (7.06%)
PTC 70.77 Decreased By ▼ -0.35 (-0.49%)
SSGC 28.93 Decreased By ▼ -0.38 (-1.3%)
TBL 9.84 Decreased By ▼ -0.12 (-1.2%)
TELE 8.76 Decreased By ▼ -0.23 (-2.56%)
TPL 16.45 Decreased By ▼ -0.07 (-0.42%)
TPLP 12.10 Decreased By ▼ -0.67 (-5.25%)
TREET 22.80 Decreased By ▼ -0.26 (-1.13%)
TRG 60.03 Decreased By ▼ -0.42 (-0.69%)

LAHORE: Importers are no more at liberty to escape the liability of proceedings for recovery of duty, taxes or charge after release of goods on provisional assessment, said sources from the Customs department.

Earlier, it was understood in general that once the provisional assessment attains finality the proceedings for recovery of duty, taxes or charge after release of goods are barred and cannot be resorted to the purposes of recovery of the escaped duty and taxes.

They said the provisions of the Act of 1969 empower an officer of Customs to provisionally determine the liability where it is not possible for the latter during the checking of the goods declaration to satisfy himself/herself as to the correctness of the assessment of goods made by the importer for reasons that the goods require chemical or other test or a further inquiry.

The differential amount is secured by security furnished by the importer of the goods. If the final determination is not made within the time specified then the provisional assessment becomes final. The finality is relatable to the assessment and does not affect or bar the subsequent proceedings in connection with recovery of duty, taxes or charge not levied or short levied.

Sources said the appellate forums were not correctly appreciating the scheme of the Customs Act of 1969 and a distinction between an assessment and the offence as well as the mechanism described for the recovery of duties and taxes. They have been reading in the fiscal statute something not intended nor provided by the legislature, adding that it is a settled principle of a fiscal statute that tax and equity are strangers.

According to the sources, the finality of assessment under the relevant provisions of the law makes the provisional assessment final and not the declaration made by the importer as per the requirements of the law. Any such assessment made under the prescribed provisions of the law does not bar subsequent proceedings in connection with the offence of hiding duty in the form of goods declaration, they added.

Copyright Business Recorder, 2023

Comments

Comments are closed for this article.