Customs values of hair brushes revised
KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of hair brushes vide Valuation Ruling No. 932/2016. The values of different types of hair brushes were earlier determined…
FBR notifies Inland Revenue Welfare Funds Rules, 2016
KARACHI: The Federal Board of Revenue (FBR) has notified Inland Revenue Welfare Funds Rules, 2016, which will apply to central inland revenue fund maintained at FBR headquarters and regional inland…
SHC allows SCRA by Pakistan Tin Plates Merchants Association
KARACHI: An appellate bench of High Court of Sindh comprising Justice Munib Akhtar and Justice Abdul Maalik Gaddi allowed a Special Customs Reference Application (SCRA 70 of 2010) and connected/identical…
Customs Audit finds huge evasion by M/s Pak Suzuki
KARACHI: The Directorate of Internal Audit has detected that 20 consignments of M/s Pak Suzuki Motor Co. Limited was processed without payment of duty and taxes in July 2013, the…
Petition seeking revision in customs values of footwear rejected
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has rejected the revision petition filed by footwear importer and upheld the values determined by the Valuation Ruling No.859/2016. M/s Mariam Enterprises…
Customs values of electricity meters revised
KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of electricity meters vide Valuation Ruling No. 931/2016. The values of electricity meters were earlier determined vide Valuation ruling…
NAB to pursue cases involving Rs100 million
KARACHI: In line with directions of Courts and NAB’s own fair thought process, NAB shall pursue to investigate cases wherein an amount over Rs100 Million is involved. However in particular…
China State Construction company imports duty/tax exempted machinery and equipment worth Rs3.019 billion
KARACHI: China State Construction Engineering Corporation has imported heavy machinery and equipment worth Rs3.019 billion in August so far after the government announced sales tax, income tax and customs duty…
Stationary manufacturers demand restoration zero-rating on paper procurement
KARACHI: Stationary manufacturers across the country are irked with the withdrawal of zero-rating facility on stationary raw material. Federal government in the last budget has withdrawn the sales tax exemption…
SHC suspends enhancement by DG Valuation above Valuation Ruling
KARACHI: An appellate bench of High Court of Sindh comprising Justice Munib Akhtar and Justice Anwar Hussain on Tuesday suspended an enhancement in value of Baby Diapers over and above…
SHC allows release of consignments on declared value as interim arrangement
KARACHI: A division bench of High Court of Sindh allowing an application for interim relief filed by importers of toilet soaps ordered release of consignments on payment of duty and…
Customs Values of abrasive products revised
KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of abrasive products grinding/cutting disc/wheel vide Valuation Ruling No. 930/2016. Customs values of abrasive products grinding/cutting disc/wheel were earlier…
Customs Values of natural raw rubber revised
KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of natural raw rubber of different grades vide Valuation Ruling No. 929/2016. Customs values of natural raw rubber of…
FBR notifies procedure for processing of sales tax zero-rating claim applications
KARACHI: The Federal Board of Revenue (FBR) has notified the procedure and requirements for the purpose of uniform and expeditious processing and disposal of cases for the grant, rejection or…
Karachi Customs Agents holding election on September 24, 2016
KARACHI: Karachi Customs Agents Association (KCAA) is holding it elections for the term 2016/17 on September 24, 2016. As many as 105 candidates have submitted their nominations for various offices.…
SHC issues notice in SCRA by MCC Export, Bond Section for Oct 03
KARACHI: AN appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Abul Maalik Gaddi on Monday issued notice to Fairdeals Textiles (Pvt) Ltd for…
Customs values of polyester yarn revised
KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of polyester yarn vide Valuation Ruling No.928/2016. All Pakistan Yarn Merchants Association (PYMA) Karachi contested that old Valuation Ruling…
Pakistan Customs notifies exemptions from the condition of electronic I-Form
KARACHI: Pakistan Customs has issued certain exemptions and relaxations from the filing of electronic Import Form (EIF). A senior officer told Customnews.pk that Goods Declarations (GDs) of personal baggage, Transshipment…
Tribunal extends benefit of SRO 1125(I)/2011 to bulk needles
KARACHI: Member Judicial Customs Appellate Tribunal Karachi, Muhammad Nadeem Qureshi has struck down the adjudication order as well as order-in-appeal against M/s silver Surgical complex Pvt Ltd and extended the…
Pakistan signs the Multilateral Convention on Mutual Administrative Assistance in Tax Matters
KARACHI Pakistan, on 14th September 2016, signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters at the OECD Headquarters in Paris. Senator Mohammad Ishaq Dar, Minister for Finance…