AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

The Central Board of Revenue (CBR) is likely to hand over the case of Raja Zaraat, head of M/s Bawan Shah Group of Companies, to the National Accountability Bureau (NAB) to expedite investigation of the multi-million rupees GST scam.
It is learnt on Saturday that collectors of customs conference discussed the progress on the case of Zaraat. During the meeting, tax officials disclosed that the NAB had expressed urgency to investigate the issue. Thus, the top investigation agency may take over the case for completion of the investigation on top priority basis.
The NAB will thoroughly investigate the case based on evidences and documents prepared by the CBR and the directorate-general, intelligence and investigation, customs and excise.
The culprit has tried his level best to obtain bail from various judicial fora, but failed to succeed. The special judge, customs and excise, Karachi, Sindh High Court and even Supreme Court of Pakistan had turned down his bail application. Raja''s application for out-of-court settlement under the alternate dispute resolution (ADR) mechanism has already been rejected by the CBR.
The National Assembly standing committee on finance had informed the CBR chairman and former directorate-general, intelligence and investigation, customs and excise that the pace of investigation is very slow and no senior official has been arrested in the case.
However, the CBR chairman had informed the committee that he would not hesitate in taking action against any individual involved in the Bawan Shah tax fraud case. The board had suspended 10 officers, including appraisers.
Meanwhile, the new director-general, intelligence and investigation would submit an updated report on the case to the board. The new director-general has recently assumed the charge and actively interacting with tax authorities on the case, sources said.
Earlier, the directorate has identified a team of investigating officials, who are expert in the procedure of sales tax refund and have full command of computer programmes to quickly retrieve relevant information from the STARR and PRAL computers for carrying out audit of ''refund sanction files''.
The directorate had informed the CBR that the investigation, covering almost 50 percent fraudulent exports under the Duty and Tax Remission for Export (DTRE) scheme, had been completed so far. Documents relating to about 50 consignments confirming the fraud have also been obtained.

Copyright Business Recorder, 2006

Comments

Comments are closed.