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Tag Archives: Customs duty

Rs71.3m duty evasion: Contravention Report made against M/s Fazal Sardar textile mill

KARACHI: Model Customs Collectorate of Exports has made the Contravention Report (CR) against M/s Fazal Sardar Textile Mills in the pretext of importing goods in excess of face value of license. M/s Fazal Sardar Textile Mills, located near Sharafi Goth, Korangi Industrial Area was granted a License (PWL-14/2010) on 25-11-2010 under rule 3(2) of SRO 327(I)/2008 dated 29-03-2008 for the ... Read More »

FBR vets PCT ‘Others’ category to withdraw concession

ISLAMABAD: The Federal Board of Revenue (FBR) is reviewing entire Pakistan Customs Tariff (PCT) to withdraw concessionary rate of customs duties on items falling within the category of ‘others’ to bring them on par with the duty structure in higher slabs in budget (2014-15). As per details, the FBR is expected to abolish ‘others’ category of the PCT in certain ... Read More »

Customs Intelligence confiscates 912 smuggled LED TVs, tyres

LAHORE: Directorate General of Intelligence and Investigation-Customs has seized smuggled items worth millions of rupees while raiding shops and warehouses across the country on tip-offs. Sources said DI&I Lahore launched a raid in areas adjacent to vegetable market and confiscated 912 LED televisions and 180 tyres. The items were confirmed to be smuggled and concealed in a warehouse. Anti-smuggling operations ... Read More »

Customs court grants bail to six in betel leaves case

LAHORE: Special Judge Customs Tanveer Akbar has granted bail to six accused of customs duty evasion worth millions of rupees in betel leaves case. Earlier, the court had sent the six accused Ijaz Golati, Amir Yousaf, Saeed Khalid Ali, Fasial Zahoor and two others to judicial lock up. The Customs Investigation and Prosecution department had arrested the accused on three ... Read More »

Dastgir’s quest for US grant of GSP shows positive signs

WASHINGTON DC: In a briefing to US media Pakistan’s Commerce Minister Khurram Dastgir has said that Pakistan qualified for EU’s grant of GSP Plus “on merit and we want the same arrangement with the US, also on merit.” The commerce minister said, “The US government is keen to help us and we have sympathisers on the Capitol Hill as well.” ... Read More »

FBR recommended to scrutinize 60 companies in particular

KARACHI: Model Customs Collectorate of Appraisement-West and the Model Customs Collectorate of Appraisement-East have recommended to Federal Board of Revenue to check the status of around 60 manufacturers’ companies. Sources in FBR informed Customs Today that both the collectorates have referred FBR to check the status of around 60 manufacturers’ companies through Inland Revenue. The companies were found suspicious on ... Read More »

Huge revenue loss due to absence of tabulation in DTRE, Appendix-I form

KARACHI: Federal Board of Revenue is facing huge revenue loss due to the absence of tabulation for determining the values in terms of customs duty, sales tax, income tax, federal excise duty and other taxes in the application form for Duty Taxes Remission on Export (DTRE), Appendix-I. Sources in FBR informed Customs Today that the non-appearance of said tabulation in ... Read More »

July-April: Central region customs duty collection up by 9pc

LAHORE: Central region’s customs duty collection has increased by 9 per cent during the period from July to April during the Fiscal Year 2013-14 as compared to the same period of FY 2012-13. The Central region attained growth in customs duty collection by collecting Rs 27,140 million up to April 2014 against Rs 24,710 April 2013. According to official data, ... Read More »

Dastgir arrives in US to hold trade talks

ISLAMABAD: Commerce Minister Khurram Dastgir has arrived at Washington DC to attend a meeting on Trade and Investment Framework Agreement from 13-15 May 2014. Prime Minister Nawaz Sharif and US President Barack Obama during their meeting held in October, 2013, resolved to resume discussions on trade and investment through the agreement. Dastgir will meet US Trade Representative Michael Forman in ... Read More »

PRV Section of MCC Appraisement-West recovers Rs20.1m

KARACHI: Post Release Verification (PRV) Section of Model Customs Collectorate of Appraisement-West has recovered an amount of Rs 20,124,450 in the period from April 1 to May 10, 2014. The PRV Section of MCC Appraisement-West has recovered the said amount by different importers in violation of PCT, non-implementation of valuation rulings, taking wrong advantage of SROs and PCT classification. The ... Read More »

IOCO recommends FBR to change SROs 565,567,575

KARACHI: Input-Output Co-efficient Organization (IOCO) has forwarded recommendations to Federal Board of Revenue regarding change in concessionary regime/exemptions in SROs 565, 567 and 575. FBR sources informed Customs Today that the SRO 567 related to the pharmaceuticals, containing a description of craft paper, which may be misused by the exporters through Duty and Tax Remission on Export (DTRE), as they ... Read More »

Importers, traders irked by higher valuation, gross weight charges

KARACHI: Pakistan Customs authorities are determined to reduce the massive difference between the revenue collection and the revenue target set by the Federal Board of Revenue for the fiscal year 2013-14 through exercising all its available powers, which is badly affecting the trade and import activities in the port city. The importers and traders have expressed their deep concerns over ... Read More »

R&D Section of MCC Appraisement-East recovers Rs15.6m

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate of Appraisement-East has recovered an amount of Rs 15,590,381 in the month of April, 2014 from different importers in cases of violation of valuation rulings, mis-declaration, wrong use of concessionary SROs and in-admissibility of SROs. According to details, the R&D Section has recovered an amount of Rs 515,965 from ... Read More »

Customs Intelligence seizes smuggled goods worth Rs30m

LAHORE: Customs Directorate of Intelligence and Investigation Lahore has confiscated Rs 30 million non-duty paid goods and articles at a warehouse near Sabzi Mandi Lahore. Due to sensitivity of the area and possible resistance, the support of police & Customs Anti-Smuggling Wing was also availed. The raid resulted in the recovery of smuggled goods worth more than 30 million rupees, ... Read More »

April 2014: MCC Port Qasim collects Rs20.2b, shortfall remains Rs10.4b

KARACHI: Model Customs Collectorate of Port Muhammad Bin Qasim has collected an amount of Rs 20, 255.49 million in the month of April, 2014 against the target of Rs 30,719 million, set by the Federal Board of Revenue in share of customs duty, sales tax, federal excise duty and income tax. MCC Port Qasim has collected an amount of Rs ... Read More »

50 illegal petrol pumps demolished during crackdown by IATF

KARACHI: The Inter-Agency Task Force (IATF) including the officers of Pakistan Customs (MCC-Preventive), Commissioner House, Pakistan Rangers and Sindh police has demolished 18 more illegal petrol pumps on second day of the crackdown on the sale of smuggled Iranian petrol in different areas of city. The officers of IATF have destroyed 50 petrol pumps in two days of the operation ... Read More »

Customs officials seize plastic goods worth Rs20m

LAHORE: Customs anti-smuggling unit has impounded smuggled Iranian made shopping bags and plastic dana worth at least Rs 20 million at the Defense Road Gajumata. Sources said that the anti-smuggling scout confiscated 250 bags of plastic dana and 2,370 bags of Iranian made shopping bags loaded in ten buses. Four smugglers namely Shahid, Nazeer, Qasim and Shafiq were identified as ... Read More »

MCC Appraisement-West collects Rs15,680m in April, misses target

KARACHI: Model Customs Collectorate of Appraisement-West has managed to collect Rs 15,680 million for the month of April, 2014 in share of different heads including customs duty, sales tax, income tax and federal excise duty (FED). According to sources, FBR had set a revenue target of Rs 20,920.74 millions for the month of April, 2014 for MCC Appraisement-West. However, it ... Read More »

Customs duty concession: FBR weighs up pros, cons of SROs

ISLAMABAD: The Federal Board of Revenue (FBR) has completed review of a number of concessionary SROs for amendment and revision to withdraw concessions in customs duty at the import stage in the new budget 2014-15. The FBR has analysed the SROs on certain principles for review of customs concessions. The customs related SROs have been considered by FBR for simplification/phasing ... Read More »

April 2014: MCC Appraisement-East records shortfall of Rs6.95b

KARACHI: Model Customs Collectorate of Appraisement-East has lagged behind its revenue collection target set by the Federal Board of Revenue for the month of April, 2014. According to the sources, the FBR had set a revenue target of Rs 20,036.92 million for the month of April, 2014 for MCC Appraisement-East in share of customs duty, sales tax, withholding tax and ... Read More »