KARACHI: Over a hundred iron/steel importers have approached Sindh High Court challenging the legality of SRO No. 18(I)/2015, which has imposed 5.0 percent regulatory duty on flat rolled products of iron or non-alloy steel.
According to the details reaching Customnews.pk, import of above mentioned goods from China attracts customs duty at 5.0 percent as per SRO 659(I)/2007.
However, in the meanwhile SRO No. 18(I)/2015 was issued that regulatory duty has been imposed over and above to the leviable customs duty on the goods classifiable under PCT 72.10 at the rate of 5.0 percent.
The importers are of the view that they are not liable to pay import/customs duties beyond the cumulative incidence of 5.0 percent on goods imported from China, which is under multi-lateral trade agreement between the two governments.
The imports submitted in their petitions before the court that they needed their consignments for home consumption on payment of lawful levible customs duty but the Customs were bent upon to collect the duty at 10 percent i.e 5.0 percent under SRO 659(I)/2007 and 5.0 percent under SRO 18(I)/2015.
The importers in their petition mentioned that Lahore High Court has already suspended the functioning of SRO 18(I)/2015.
The importers prayed to the Court to declare that the subject goods imported from China are not chargeable over and above 5.0 percent. They further prayed that pending the disposal of subject petitions the operation of SRO 18(I)/2015 may be suspended to the extent of materials imported by the petitioner importers and Customs be restrained from charging regulatory duty on steel imports from China.