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Customs Court directs CIR to complete investigation against M/s KZ Industries & others

Customs Court directs CIR to complete investigation against M/s KZ Industries & others

KARACHI: The Customs Court directed investigation officer to complete investigation and submit a progress report against Faisal Mirza, owner of M/s KZ Industries and others, who were booked for committing of tax fraud by obtaining sales tax refund on the strength of fake and flying invoices and false zero-rated supplies without having any manufacturing facility.

On 19 July 2021, investigation officer submitted that Commissioner Inland Revenue Zone-I lodged a first information report (FIR) against the above mentioned suspect and others registered and unregistered persons who are directly, indirectly, knowingly, dishonestly, fraudulently and without any lawful excuse are the beneficiaries and whose criminal negligence and connivance by any act or caused to do any act, omitted to take any action including the making of supplies and taxable goods without payment of sales tax leviable under sales tax act, 1990, claiming illegal sales tax refunds on the strength of fake/flying invoices, having committed tax fraud as defined under section 2 (37) of the sales tax act, 1990.

He further argued that accused person evaded sales tax amounting to Rs9,036,512, therefore, case was registered against them for violated section 2 (2) 2(16) 2(17) 3, 6, 7, 8, 10, 22, 23, 26 and 73 of the sales tax act 1990 read with sales tax refund rules, 2006 and punishable under section 33(i) 33(13) of the sales tax act, 1990 and they evaded amounting to Rs9,036,512 to the national exchequer.

After the hearing, the court took FIR into court record and directed him to complete investigation and submit progress report for next date of hearing.