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Finance Act 2020: customs to allow provisional release in anti-dumping duty case

Finance Act 2020: customs to allow provisional release in anti-dumping duty case

ISLAMABAD: The customs authorities shall allow provisional release of goods on bank guarantee where levy of anti-dumping duty challenged in court of law.

Through Finance Act, 2020 applicable from July 01, 2020 amendment has been made in Anti-Dumping Duties Act, 2015.

As per the amendment: “ … where a competent court of law has stayed preliminary or final determination of anti dumping duly, goods shall be provisionally released against security in shape of bank guarantee or pay order of a scheduled bank along with indemnity bond equal to the amount of anti-dumping duty imposed on subject goods.

“In case preliminary or final determination is upheld by the court, duty shall be paid by the importer and security with the customs department shall be released otherwise the same shall be en-cashed to settle the duty liability.

“If the preliminary or final determination is set aside by the court, security shall be released, if not required for recovery of any outstanding previous liability.”