Model Customs Collectorate (MCC), Port Qasim (PQ) has made a biggest tax recovery of Rs 1.12 billion from a Chinese company, which was authorized to establish a coal terminal at PQ. Talking to Business Recorder, Abdur Rasheed Sheikh, chief collector, appraisement south said that the company had utilized machinery imported during fiscal years 2016-2017 without filing of Goods Declarations (GDs) and payment of duty and taxes.
The company has imported 14 consignments since 2016 and out of these 14 consignments, four consignment were got cleared against payment of duty & taxes. However the rest of the 10 consignments were utilized without paying duty and taxes.
He said that collector MCC Port Qasim under his direction pursued the case and later the company admitted their default and paid Rs 1.12 billion evaded duties and taxes in two instalments and added that contravention report was also established to collect fine and penalty from the company.
Needless to mention, two consignments of "Coal Belt Conveyor" and "Railway Track Fittings" was cleared by paying up-front amount of Rs 5,795,580 and Rs 19,854,390 respectively. However, the importer utilized the aforesaid goods without payment of balance amount to the tune of Rs 237 million (Approx).
Similarly, eight consignments of different machinery and equipments were brought into the country and the importing company had utilized the imported machinery and equipments without filing Goods Declarations (GDs). The recoverable amount duty and taxes against these consignments has been worked out to be Rs 885 million.
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