FBR Takes Action Against Iron and Steel Factories in Sheikhupura

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. This was part of a drive against steel melters and re-rollers who 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. ALSO READ FBR Reveals the Changes Made Under New E-Audit System The said 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. During the search, a certain record was impounded, which was under scrutiny. Further investigation is underway. The Directorate General Intelligence and Investigation-Inland Revenue shall continue such operations to detect the fraud of duty causing loss of revenue amounting to hundreds of millions of rupees.