SHC summons financial statement of company
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Mrs Ashraf Jahan on Monday ordered Icon Securities which challenged the imposition of…
Customs intelligence detains consignment of anti-mosquito lotion
KARACHI: Directorate of Customs Intelligence Hyderabad has detained a consignment of foreign origin anti-mosquito lotion worth Rs1.703 million on the basis of information that the goods were non-duty paid. The…
ASO Preventive Karachi seizes betel nut, gutka worth Rs100 million
KARACHI: The anti-smuggling organization (ASO) of MCC Preventive Karachi headed by Deputy Collector Mohammad Faisal has been quite efficient against movement of smuggled goods and foiled numerous smuggling attempts. Information…
NAB approves inquiry against Shaukat Ali
KARACHI: Chairman National Accountability Bureau (NAB) has approved an inquiry into corruption allegations against Director General Customs Intelligence & Investigation Shaukat Ali and his front-man ex-customs employ Mushtaq Sarghana. Sources…
NAB advised to expeditiously complete inquiry into corruption
KARACHI: Supreme Court of Pakistan (SCP) has advised National Accountability Bureau (NAB) to expeditiously complete investigation regarding corruption allegations against the senior Customs officers. In the last 4 years, the…
ASO Preventive seizes large quantity of betel nut
KARACHI: Anti-smuggling organization (ASO) of MCC Preventive Karachi has recovered another bogey full of betel nut from a cargo train in a raid conducted at KPS Yard, Karachi. Information was…
ASO Hyderabad seizes Indian medicines worth Rs3.225 million
KARACHI: Anti-smuggling organization (ASO) of Customs Intelligence & Investigation-Hyderabad has seized Indian origin smuggled medicine worth Rs3.225 million. Information was received through Director Customs Intelligence Hyderabad that non duty paid/smuggled…
Customs values of fleece fabric revised
KARACHI: Director Customs Valuation Karachi Iqbal Muneeb has revised the customs values of fleece fabric vide Valuation Ruling No. 1326/2018. The customs values of fleece fabric were earlier determined vide…
MCC Quetta seizes smuggled goods worth Rs3.5 million
KARACHI: MCC Quetta has intensified its operation against the movement of smuggled goods and recovered smuggled items including contraband worth Rs3.5 million from from several check posts. MCC Quetta recovered…
RECOVERY OF DUTY, TAXES WORTH RS 940 MILLION Lucky Cement case now on Oct 3, assessment order summoned
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Muhammad Ali Mazhar and Justice Anan Chaudhry asked Pakistan Customs to file an assessment order made 25 years…
SHC dismiss application by Intervener in SCRA
KARACHI: A Customs Appellate bench of High Court of Sindh comprising Justice Aqeel Ahmed Abbasi and Justice Mrs Ashraf Jahan dismissed an application by an Intervener in a SCRA filed…
SHC disposes of petition by S.S. International against IPR, Pakistan Customs
KARACHI: A customs appellate bench of High Court of Sindh disposed of a petition along with contempt of court application filed by S.S. International against Intellectual Property Rights (IPR). When…
SHC grants bail to alleged smuggler
KARACHI: The Link Judge to Special Customs Court admitted an accused Essa Gul to bail against a solvent surety of rupees 100,000. The applicant was arrested in a case of…
Sales tax on LNG/RLNG rationalized
KARACHI: Federal government has proposed reduced rate of sales tax of 12 percent on sale of liquefied natural gas (LNG) and re-gasified liquid natural gas (RLNG) to gas transmission and…
Customs Intelligence Peshawar seizes narcotics
KARACHI: Customs Intelligence Peshawar has recovered narcotics worth millions of rupees from a passenger vehicle near Rashakai Interchange, district Nowshera. Under instructions from Director Intelligence and Investigation (Customs) Peshawar, Dr.…
FED increased on cigarettes
KARACHI: Federal government has proposed significant increase in the rate of Federal Excise Duty on cigarettes. According to the proposal, FED would be Rs4500/thousand cigarettes on locally produced cigarettes if…
Customs duty reduced on 34 tariff lines
KARACHI: The Finance Bill (Amendment) 2018 has proposed reduced rate of customs duty on 34 tariff lines through the proposed Table-C in the Fifth Schedule. 0.3% to 0.6% percent withholding…
Key Takeaways: Revised Finance Bill FY19
KARACHI: The Finance Minister Asad umar stated that Budget deficit for FY18 was set at 6.6% (RS 2.2trn) whereas FY19 projections were set at 7.2% (RS 2.9trn). Hence, immediate measure…
Non-filers allowed to purchase vehicles, property
KARACHI: Federal government through the Finance Bill (Amendment) 2018/2019 has allowed non-filers of income tax returns to purchase immovable properties and motor vehicles. The non-filers were restricted in the budget…
*Key Takeaways: Finance Bill FY19*
1. The Finance Minister stated that Budget deficit for FY18 was set at 6.6% (PKR 2.2trn) whereas FY19 projections were set at 7.2% (PKR 2.9trn). Hence, immediate measure are needed…