ISLAMABAD:In a drive against steel melters and re-rollers which are involved in massive evasion of Federal Excise Duty by way of suppression of actual production and supplies and suppression of actual value of supplies in violation of sub-section 5A of section 3 of Federal Excise Act, 2005, the Directorate of Intelligence and Investigation-Inland Revenue, Lahore carried out proceedings under Section 25 and Section 45 of Federal Excise Act, 2005 against two industrial units manufacturing iron and steel products (steel ingot and other long profiles of steel) which were working at adjacent premises situated at Sheikhupura.
The tax evading units had not paid due Federal Excise Duty payable in sales tax mode on its dutiable supplies by way of concealment of actual production and sales.
In a statement issued by FBR on Wednesday said “During the search, certain record was impounded which was under scrutiny. Further investigation is underway”.
The Directorate General Intelligence and Investigation-Inland Revenue shall continue such operations in order to detect the fraud of duty causing loss or revenue amounting to hundreds of millions of rupees.
