AIRLINK 206.40 Decreased By ▼ -6.42 (-3.02%)
BOP 10.16 Decreased By ▼ -0.09 (-0.88%)
CNERGY 6.68 Decreased By ▼ -0.32 (-4.57%)
FCCL 33.20 Decreased By ▼ -0.27 (-0.81%)
FFL 16.70 Decreased By ▼ -0.94 (-5.33%)
FLYNG 22.25 Increased By ▲ 0.43 (1.97%)
HUBC 127.81 Decreased By ▼ -1.30 (-1.01%)
HUMNL 14.06 Increased By ▲ 0.20 (1.44%)
KEL 4.76 Decreased By ▼ -0.10 (-2.06%)
KOSM 6.40 Decreased By ▼ -0.53 (-7.65%)
MLCF 42.65 Decreased By ▼ -0.98 (-2.25%)
OGDC 213.55 Increased By ▲ 0.60 (0.28%)
PACE 7.00 Decreased By ▼ -0.22 (-3.05%)
PAEL 41.20 Increased By ▲ 0.03 (0.07%)
PIAHCLA 16.77 Decreased By ▼ -0.06 (-0.36%)
PIBTL 8.32 Decreased By ▼ -0.31 (-3.59%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 184.36 Increased By ▲ 1.33 (0.73%)
PRL 38.60 Decreased By ▼ -1.03 (-2.6%)
PTC 24.40 Decreased By ▼ -0.33 (-1.33%)
SEARL 97.70 Decreased By ▼ -0.31 (-0.32%)
SILK 1.01 No Change ▼ 0.00 (0%)
SSGC 40.33 Decreased By ▼ -1.40 (-3.35%)
SYM 18.09 Decreased By ▼ -0.77 (-4.08%)
TELE 8.98 Decreased By ▼ -0.02 (-0.22%)
TPLP 12.35 Decreased By ▼ -0.05 (-0.4%)
TRG 65.26 Decreased By ▼ -0.42 (-0.64%)
WAVESAPP 10.65 Decreased By ▼ -0.33 (-3.01%)
WTL 1.82 Increased By ▲ 0.03 (1.68%)
YOUW 4.01 Decreased By ▼ -0.02 (-0.5%)
BR100 11,813 Decreased By -53.2 (-0.45%)
BR30 35,707 Increased By 9.7 (0.03%)
KSE100 113,374 Decreased By -774.2 (-0.68%)
KSE30 35,681 Decreased By -271.6 (-0.76%)

Directorate of Intelligence & Investigation Inland Revenue (IR) Faisalabad has unearthed the non-payment of duties/taxes to the tune of Rs 5 million imposed on the huge stocks of non-duty-paid cigarettes that they seized from premises/godown of cigarettes. The revenue officials received information that a tobacco manufacturer was involved in sale of non-duty-paid cigarettes.
Accordingly, a team of intelligence was constituted and the said team under rule 62 of the Federal Excise Act, 2005 and Section 38 of the Sales Tax Act, 1990, visited the premises/ godown of cigarette belonging to Saleem Traders at Radalla Mandi, District Faisalabad. The team found the following stock: Hero 80 cartons, Chance 27 cartons, Gold street 34 cartons, Bridge 260 cartons ie total 401 cartons. The initial inquiry revealed that the above said brands are manufactured by the said tobacco unit. No invoices showing payment of FED and Sales Tax were provided to the team at the time of visit/ seizure. The tentative revenue including duty/ taxes of seized cigarettes is worked out at Rs 5 million approximately, DG I&I IR said. The exercise is part of the agency's initiative against the illicit trade and action against the non-duty-paid cigarettes across the country.

Copyright Business Recorder, 2016

Comments

Comments are closed.