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FBR notifies rules for duty free import of minimum value goods

FBR notifies rules for duty free import of minimum value goods

ISLAMABAD: Federal Board of Revenue (FBR) issued rules for duty free minimum value of goods imported through courier and postal service.

The FBR issued SRO 886(I)/2020 to notify draft amendment to Customs Rules, 2001.

Through the draft amendment the FBR issued ‘Deminimis rules for imported goods’, which shall apply to the goods imported through post service and air courier only.

“Deminimis value’ means the value of goods up to five thousand rupees in terms of the provisions of Section 19C of the Customs Act, 1969.

The FBR said that for the purpose of application of the provisions of Section 19C of the Customs Act, 1969, the value mentioned on label of the postal good or the courier receipt shall be considered as the declared value.

Further, for conversion of invoice value into Pak Rupee, the postal or courier authorities shall take the official exchange rate of the previous day.

The postal or courier authorities shall submit a separate list of goods along with invoices and other documents, if any, wherein the declared value is up to five thousand rupees.

The customs authorities shall scrutinize the list and shall have the right to examine or detain any goods to verify the declared value or compliance to the requirement of any other law applicable thereon.

The postal or courier authorities shall submit a consolidated monthly e-statement of all such clearance along with copies of invoice of the imported goods cleared under the rules to the concerned customs authorities for re-conciliation of the record.