Differences in Pakistan Tea Assoction Acting Chairman PTA resigns in protest over alleged custom duty evasion 

KARACHI: Abdul Majeed Paracha, Acting Chairman Pakistan Tea Association (PTA) tendered resignation from post of Acting Chairman in protest over valuation or amount of customs duty payable on imported tea. In a letter addressed to the Secretary  General of PTA, Mr Majeed Paracha referred to a meeting held on request… Continue reading

Motorcycle industry is over burdened with customs duty and additional excise duty on motorcycle spare parts

KARACHI: The motorcycle industry is over burdened with customs duty and additional excise duty on motorcycle spare parts. The government has levied a total of 85.5 per cent duty on commercial importers on auto parts, leaving legal importers of motorcycle spare parts in trouble and encouraging spare parts smugglers. The… Continue reading

SHC allows bench of SCRA’s Computer Processors

KARACHI: A customs appellate bench of High Court of Sindh (SHC) allowed a number of Special Custom Reference Applications filed by different companies which importer processors used in computers. Pervez Iqbal Kasi advocate appearing for the importers maintained that if Section 81 of the Customs Act 1969 was invoked then… Continue reading

SHC disposes off petition by Tyre Importers Association, others

KARACHI: An appellate bench of High Court of Sindh (SHC) yesterday disposed of dozens of identical petitions filed by tyre importers and Tyre Importers Association while ordering the department to release consignments provisionally. The bench comprising Justice Aqeel Ahmed Abbasi and Justice Abdul Malik Gaddi earlier heard the sides at… Continue reading

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 tax, exporters should be exempted from this provision. Raw material that is not produced in Pakistan should be exempted from… Continue reading

Shipping companies approach High Court against toy importers, Customs

KARACHI: Several shipping companies and a container terminal have approached Sindh High Court against the blackmailing by a cartel of toy importers, and Customs officials pressurizing the terminal operator to exempt the importers convicted of fraud from demurrage and detention charges. A group of consignees imported toys and attempted to… Continue reading

MCC Quetta pays Rs71.752m refunds to exporters

QUETTA: The Model Customs Collectorate Quetta  paid Rs.71.752 million refunds to exporters during first 11 months of Fiscal Year 2017-18 under head of customs duty (CD). According to details told by Collector Customs Collectorate Ashraf Ali that during first 11 months (July to May) FY 2017-18 the Collectorate tried to… Continue reading

FPCCI terms federal budget 2018-19 a populous yet balanced one

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has termed the federal budget 2018-19 a populous and yet a balanced budget envisaging several pro-business measures. President FPCCI Ghazanfar Bilour said a number of incentives were announced to promote country’s agriculture sector, which was a good thing and would… Continue reading

Federal Budget 2018-19 proposes tariff rationalization measures, imposes RD on kits

KARACHI: Federal Budget 2018-19 has proposed several revenue measures including rationalization of custom duty on several importable items along with imposition and increase in regulatory duty on certain goods. It is proposed that a levy of 30 percent regulatory duty is imposed on export of waste and scrap of copper… Continue reading

MCC Appraisement East issued assessment alert

KARACHI: MCC Appraisement East has issued an assessment alert and all assessing officers are directed to observe due diligence in classification while assessing varnishes and polyester polyamide wire enamel/varnishes. The R&D of MCC Appraisement East observed that while assessing Varnishes and Polyester Polyamide Wire Enamel, due care is not being… Continue reading