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M/s Byco Petroleum files petition challenging recovery notice

M/s Byco Petroleum files petition challenging recovery notice

KARACHI: M/s Byco Petroleum Private Limited has approached the Sindh High Court (SHC) against deposit of pay order for purported recoverable amount of Rs 552,688 million as sales tax and petroleum levy on HSD issued by high officials of Federal Board of Revenue.

On 22 April 2020, counsel for the petitioner submitted a constitutional petition and argued that petitioner is lawful importer of petroleum products and always fulfills legal formalities according with law.

He further submits that however, petitioner is being aggrieved by the impugned notice dated 25 March 2020 issued by Commissioner Inland Revenue Zone IV, Large Taxpayer, directed to the petitioner to deposit pay order for purported recoverable amount of Rs552.688 million being sales tax and petroleum levy on HSD manufactured and supplied to its charted tugboats operating at its single paint moving (SPM) facility in the high seas to safe anchorage of vessels and offloading of crude oil therefrom for supply to petitioner’s refinery through sub-sea pipeline.

Citing Sectary Revenue Division, Chairman Federal Board of Revenue, Chief Collector of Customs Model Customs Collectorate MCC South, Collector of Customs MCC Preventive and Commissioner Inland Revenue Division as respondents, petitioner pleaded the court may declare that act of the respondents as illegal, malafide and arbitrary.

He further pleaded the court may set aside impugned recovery notice issued by FBR officials and restrain them from taking any coercive action against the petitioner till final order in this petition.