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Mis-declaration: Appraisement East registers FIR against M/s Iftikhar Auto Store

Mis-declaration: Appraisement East registers FIR against M/s Iftikhar Auto Store

KARACHI: Collectorate of Customs Appraisement East registered FIR against M/s Iftikhar Auto Store for mis-declaring the classification and value of imported goods to evade duty and taxes.

According to sources, an information was received by Collector Fayyaz Rasool Mekan that M/s Iftikhar Auto Store is clearing brake lining friction material clutches with the connivance of clearing agent M/s Pakistan Agencies by mis-declaring PCT of the imported goods avoiding application of relevant Valuation Ruling and evade the government revenue.

An under process GD of the importer was scrutinized and the goods were found to be mis-declared under PCT 6813.2090 instead of correct PCT 6813.2020 and the value of brake lining in roll was declared at $0.6/kg instead of VR value of $1.6 for China causing a loss of Rs0.89 million to the national exchequer in a single transaction.

Previous import data of the importer was also thoroughly scrutinized and it was found the importer evaded another Rs10.16 million on 16 GDs.

An FIR is lodged against Muhammad Iftikhar Hussain of M/s Iftikhar Auto Store and customs agent M/s Pakistan Agencies for conniving with each other and mis-declaring the classification and value of the imported goods to evade government revenue.