SHC grants urgency, fixes hearing on June 02
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Arshas Hussain Khan on Tuesday granted an application for an urgent hearing by Anam…
Customs values of circuit breakers revised
KARACHI: Directorate of Customs Valuation has determined the customs values of circuit breakers vide Valuation Ruling No.1168/2017. Customs values of circuit breakers were earlier determined vide Valuation Ruling No. 555/2013.…
Customs values of ice cream determined
KARACHI: Directorate of Customs Valuation has determined the customs values of ice cream vide Valuation Ruling No.1167/2017. Customs values of ice cream were earlier determined vide Valuation Database letter. It…
Customs values of circuit breakers revised
KARACHI: Directorate of Customs Valuation has determined the customs values of circuit breakers vide Valuation Ruling No.1166/2017. Customs values of circuit breakers were earlier determined vide Valuation Ruling No.994/2016. Some…
Customs values of switches and sockets revised
KARACHI: Directorate of Customs Valuation has determined the customs values of switches and sockets vide Valuation Ruling No.1165/2017. Customs values of switches and sockets were earlier determined vide Valuation Ruling…
Sugar export subsidy scam; M/s Chaudry Sugar Mills challenges Adjudication order
KARACHI: M/s Chaudry Sugar Mills has approached Appellate Tribunal appealing against the order of Collector Customs Adjudication, which charged the sugar mill for making fake export GDs and making paper…
Customs detect over Rs61 million evasion of anti-dumping duty Chinese tiles
KARACHI: Pakistan Customs has detected evasion of over Rs61 million on account of levy of provisional anti-dumping duty on dumped imports of wall and floor tiles into Pakistan originating in…
Pakistan’s central bank maintains key interest rates at 5.75%
KARACHI: State Bank of Pakistan (SBP) has kept the policy interest rates unchanged at 5.75% for May and June of 2017. Real GDP growth in FY17 is provisionally estimated at…
Pakistan stocks correct post MSCI reclassification review
KARACHI: Pakistan stocks market took a breather adjusting 1.95 percent during the week ended May 19, 2017 and investors flocked to book profits as MSCI upgrade euphoria settled down ahead…
Nestle Pakistan found evading government revenue
KARACHI: Directorate of Customs Intelligence & Investigation (enforcement) Karachi has served a contravention report on M/s Nestle Pakistan Limited for evading government’s legitimate revenue through under-declaring the values of imported…
Steel alloy case: SC orders release of consignment at new value, rate of duty
KARACHI: Resolving a controversy raised in a Special Customs Reference Application (SCRA) regarding the steel alloy, non alloy, an appellate of High Court of Sindh (SHC) comprising Justice Munib Akhtar…
SHC warns petitioner, directs filing of rejoinder by next date
KARACHI : A petitioner seeking release of an oil tanker was warned by a n appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Arshad…
Customs values of frozen potato French fries revised
KARACHI: Directorate of Customs Valuation has revised the customs values of frozen potato French fries vide Valuation Ruling no.1163/2017. Customs values of frozen potato French fries were earlier determined vide…
Customs values of Denso oil/air filter determined
KARACHI: Directorate of Customs Valuation has determined the customs values of automotive oil filter and air filter Denso brand (genuine parts) vide Valuation Ruling no.1163/2017. A representation was received from…
Customs Torkham foils fertilizer smuggling attempt
KARACHI: Customs staff at Customs Station Torkham has foiled a bid to smuggle large quantity of fertilizer to Afghanistan. Collector Peshawar Qurban Ali Khan has advised Additional Collector Fazle Samad…
SRB announces exemption of penalty and default surcharge on sales tax on services
KARACHI: The Sindh Revenue Board (SRB) has announced exemption of the entire amount of penalty and part of default surcharge pertaining to the Sindh sales tax on services. The tax…
Steel importer booked for defrauding exchequer through forged documents
KARACHI: Directorate of Customs Intelligence & Investigation has lodged FIR against M/s Zubair Steel for evasion of government revenue on import of galvanized, electro galvanized and hot rolled, cold rolled…
MCC Port Qasim comes hard on under-invoicing, mis-declaration to secure government’s revenue
KARACHI: MCC Port Qasim is keeping strict vigilance over the mis-declaration and under-invoicing practice, which several importers indulge in to evade government’s legitimate revenue. Collector Port Qasim Saeed Akram has…
Customs Sukkur seizes smuggled goods
KARACHI: Chief Collector Enforcement Manzoor Memon has expedited efforts against the movement of smuggled goods ahead of holy month of Ramadan as influx of smuggled goods multiplies during this time…
FBR defines HSD transportation procedure from M/s Byco to Port Qasim
KARACHI: The Federal Board of Revenue (FBR) has notified the procedure to streamline transportation of high speed diesel (HSD) produced locally as M/s Byco Refinery or cleared at single point…