The Federal Board of Revenue (FBR) has decided to auction properties of M/s Forvil Cosmetics Pvt Ltd, the makers of Bio Amla, and its directors on August 21 (Monday) to recover the dues.
FBR has given an advertisement in different newspapers with regard to the auction of 12 properties of directors of Forvil Cosmetics Pvt Ltd.
As per rule No 112 to rule No 119 of Sales Tax Rules 2006 general public is informed through the newspaper advertisement that the defaulters i.e. Forvil Cosmetics Pvt Ltd (and its directors namely Zaka ud din Shiekh, Zunair Ahmed, Wamiq Zaka, and Khalida Parveen) of sales tax amounting to Rs. 155.39 million, penalty of Rs. 155.39 million and default surcharge (to be calculated at the time of recovery) have failed to deposit their dues/payable taxes therefore immovable properties of the defaulter taxpayer have been attached for sale for recovery of government dues, reads the auction notice.
As per the notice, all bidders would be required to declare if they are bidding on their own behalf or on behalf of their principals, and in the latter case, they would be required to deposit their authority to bid, otherwise, in case of default, their bid would be rejected.
The successful bidder will deposit 25 percent through demand draft/pay order of the purchase value immediately after the conclusion of the auction. The balance amount will be paid within 15 days from the date of completion of the auction.
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