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Tag Archives: 1990

Customs Exports issues bank account attachment notice against Sharifuddin

KARACHI: The Special Recovery Cell (SRC) of the Model Customs Collectorate-MCC Exports has issued yet another bank account attachment notice against Muhammad Sharifuddin in its alleged involvement in non-payment of government dues amounting to Rs 1 million. Assistant Collector of Customs-SRC (Exports) with the consent of Collector-MCC Exports Manzoor Memon has issued bank account attachment notice under Section 48(I) (CA) ... Read More »

Misuse of Sr No 4 of Sales Tax Act: Action under Section 38 afoot for ST recovery

ISLAMABAD: The intelligence and investigation (I&I) wing of the Federal Board of Revenue (FBR) is likely to invoking Section 38 of Sales Tax Act, 1990 for recovery of Sales Tax from manufacturers/importers of ghee and cooking oil evaded under conditional exemption granted vide Sr No 24 of Sixth Schedule of Sales Tax Act, 1990. The law empowers the agency to ... Read More »

Customs audit detects misuse of SRO 421 in clearance of steel pallets

KARACHI: The Directorate General of Internal Audit-Customs has sent “audit paras” to the MCC-Appraisement (East) and MCC-Port Muhammad Bin Qasim and pointed out a short recovery amounting of Rs 20 million altogether in clearance of steel pallets under SRO421/2014, it was learnt here. The sources informed Customs Today that the Directorate General of Internal Audit-Customs has sent audit paras amounting ... Read More »

R&D registers FIR against Sundus Fertilizers, clearing agent

KARACHI: The Research and Development (R&D) Section of MCC Appraisement (East) has registered an FIR against owners, directors, partners of M/s Sundus Fertilizers & Chemicals Pakistan (Pvt) Ltd and M/s Al-Rehmat Trading, clearing agent against mis-declaration of description and value, as the importers tried to import Cartap Hydrochloride Tech 98 per cent min, B No 20140408 packed in 25 kgs ... Read More »

Mis-declaration: M/s Ziaul Haq & Sons served show cause

KARACHI: The Customs Collectorate Additional Collector-II (Adjudication) has served importer M/s Ziaul Haq & Sons with a show-cause notice for mis-declaration of imported consignments. According to details, importer M/s Ziaul Haq cleared the consignments of cold rolled coil of prime quality, having PCT 7209.1590, weighting 3,784-kg and Tin plate sheet, having PCT 7210.1290 and 11,000-kg weightage under Section 79(1) of ... Read More »

Violation of SRO670: AIB of MCC-Appraisement (West) to investigate 3 more importers

KARACHI: The Appraising Intelligence Branch (AIB) of Model Customs Collectorate (MCC) of Appraisement (West) has decided to extend the ambit of investigation in recently lodged FIR against M/s Reliable Enterprises, it is learnt here. The AIB sources informed Customs Today that the authorities concerned with the approval of Collector, MCC-Appraisement (West) Muhammad Saleem has started investigation against three other importers, ... Read More »

No new discretionary powers given to commissioners: FBR

ISLAMABAD: Referring to SRO 608(I)/2014 dated 26.06.2014, it has been wrongly stated that Commissioners of Inland Revenue have been given extra discretionary powers, clarified FBR. The actual facts are that in accordance with the government’s policy to phase out the SRO regime, many concessions in existing SROs were either withdrawn or reduced in the Budget 2014-15. However, a limited number ... Read More »

Dairy sector enjoys concessions: Bajwa insists FBR empowered to issue SROs

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa said that the government did not violate any law while issuing statutory regulatory orders (SROs), saying that the federal government had the legal authority to revise tax rates under Income Tax Ordinance 2001, Sales Tax Act, 1990 and Federal Excise Act, 2005. Talking to the media at Parliament House here, Tariq ... Read More »