Corporate Regional Tax Office (CRTO)-Zone VI, Karachi has arrested four persons involved in misusing SRO 1125(I)/2007 for getting undue tax concession on commercial imports. According to the officials, CRTO has initiated an exercise against fraudulent sales tax registered persons under the directives of member inland revenue (operations). They said the Zone-VI of CRTO during scrutiny of records detected irregular imports of M/s Mind Challenge, which was registered in the tax department four months ago.
This company, enrolled as textile manufacturing unit in the tax department, was involved misusing SRO 1125(I)/2007 for its commercial imports, they said and added that they had made huge imports of blankets and finished fabric for commercial imports and claimed tax concession under SRO 1125(I)/2007, which could only be availed by manufacturers for raw material imports.
Keeping the said in view, the Zone-VI of CRTO has lodged an FIR against M/s Mind Challenge and took Saif-ul-Malook and three other accomplices into custody for violation of SRO 1125(I)/2007.
The officials said these detained persons during initial course of investigation confessed the tax evasion of Rs 50 million on the imports of fabric and added that the scope of tax evasion could be further widened as the department had identified more such units. Further investigation is in progress.
Comments
Comments are closed.