M/s Indus Pencils Industries allowed raw material imports on concessionary rates

KARACHI: Pakistan Customs has provisionally allowed M/s Indus Pencil Industries (Pvt) Limited for import of raw material under concessionary regime subject to certain conditions.
Input-Output Co-efficient Organization (South) Karachi has received permission for the import of raw materials under concessions available through SRO (I)/2006 from M/s Indus Pencil Industries (Pvt) Limited located in Karachi – registered as a manufacturer with the Sales Tax Department.
The unit requested the following raw materials, parts and components for the manufacturing of articles of stationary on concessionary rates as mentioned in SRO 565 subject to the condition:
Raw Materials:
Stamping foil, 177 kgs, zero percent ad val.
Inks for ball points pens, fine liners and fiber tips, 5,723 kgs, zero percent ad val.
Spring wire, 2,000 kgs, zero percent ad val.
Parts and Components:
Sharpener blades, 1,500,000 pieces, five percent ad val.
Synthetic fiber reservoirs of the kind used in writing instruments (ink reservoirs), 6,121,250 pieces, five percent ad val.
Nibs points (for fiber tips pens and markers), 5,251,000 pieces, five percent ad val.
Tips for fine liners, 2,865,000 pieces, five percent ad val.
The unit also requested for the items falling under PCT headings that are hit by local manufacturing CGO 11/2007 dated August 28, 2007, therefore, may be released by the clearance collectorate as per condition 3 of the CGO ibid.
Raw Materials:
Acid dyes whether or not premetallised, and preparations based thereon; mordant dyes and preparations based thereon (acid dyes / dyestuff, non-textile grade for the quantity 500 kgs at zero percent ad val.
Pigments and preparations based thereon (pigments), non-textile grade for the quantity of 5,437 kgs at zero percent ad val.
The IOCO approved the certificate subject to the following conditions:
The provisional certificate is being issued on the basis of information, provided by applicant in accordance with SRO 565 as amended time to time and shall be valid till June 30, 2015. However, in case PCT headings turn out to be different then the declared headings after examination at clearance stage, the clearance collectorate shall check the local manufacturing conditions as per CGO 11/2007 before allowing release of goods and shall inform IOCO accordingly.
The raw materials, part and components shall be released against deposit of post dated cheque (PDC) for the differential amount of statutory rates of customs duty and the concessionary rates of customs duty at the time of clearance by the respective customs collectorates.
The import and clearance of raw materials as allowed under SRO 565 is restricted via Karachi Port only.
All conditions and pre-requisites of SRO 565 shall be fulfilled by the applicant for claiming concession under the certificate.
Issuance of the provisional certificate does not entitle for concession if such concession is either not covered under the SRO is barred under any other instruction, directive or order issued by the collectorate in this regard.
The provisional certificate shall be cancelled retrospectively, without any notice, if it is found that the applicant has mis-declared or concealed any material facts.
In case of withdrawal of concession, the utilization of raw materials shall be subject to statutory rates of customs duty.
The input material mentioned herein shall be subject to all such conditions, limitations and restrictions with regard to their importability as are stipulated in the provisions of the Import Policy Order in vogue. Import conditions shall be checked at the time of clearance by respective collectorates.
The IOCO said that the applicant is required to observe all requisite formalities and furnishing of the information, as prescribed under the SRO or required by the authorities, for determining the bonafide of the concessions sought by the applicants, failing which, necessary action shall be initiated, as required and relevant provisions of the Customs Act, 1969.

Print Friendly, PDF & Email
Bookmark the permalink.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.