Confiscated diesel/petrol auction on December 19

KARACHI: The auction of confiscated diesel/petrol will be held on December 19, 2013 at Model Customs Collectorate of Preventive, Custom House, Karachi. According to notification, around 217492 liters seized diesel/petrol with having different lot No. is available at MCC Preventive, Karachi for disposal. There are certain conditions over dispose of… Continue reading

FBR directs collectorates to curb LPG smuggling

KARACHI: Federal Board of Revenue (FBR) has directed all the customs collectorates to prevent illegal import of LPG through Pakistan-Iran and Pakistan-Iran border as substandard smuggled LPG is threat to public safety. In a letter sent to the Collector of Customs, Model Collectorate of Customs, Appraisement (East/West)/Preventive, MCC Muhammad Bin… Continue reading

Pakistan Atomic Energy Commission imports by classified persons

KARACHI: Pakistan Atomic Energy Commission has asked the Collector of Customs Appraisement West to allow clearance of PAEC imports to classified firms. The PAEC requested Pervaize Commerical Trading Company and 3A Techno Trading Company should be included in the list of classified firms for clearance of one time import or… Continue reading

Directorate of Customs Valuation revises customs values of engine/gasoline/transmission oil

KARACHI: The Directorate of Customs Valuation has re-determined the customs values of brake fluid to reflect the current price trends in the international markets as the last valuation ruling in this regard was issued on June 16, 2011. The brake fluids under PCT code 2710.1994 including engine oils, gasoline oils,… Continue reading

Supreme Court admits Additional Commissioner IRS competent to issue notice under section 122(5A) of Income Tax Ordinance, 2001

KARACHI: The Supreme Court of Pakistan has admitted Additional Commissioner Inland Revenue (IRS) as the competent authority to issue notice a taxpayer under section 122(5A) of the Income Tax Ordinance 2001. The Supreme Court has dismissed the petition for leave to appeal submitted by Ms Oceans Pakistan Limited and upheld… Continue reading

Customs official directed to prevent import of ozone depleting substances

KARACHI: Pakistan customs Wednesday directed the officials to prevent import of products resulting in rapid depletion of ozone layer. The customs authorities circulated a fresh list of the most common Ozone Depleting Substances (ODS) containing revised Harmonised System (HS) codes, which are implemented from January 1, 2012. While the customs… Continue reading