Explanation cannot be effective retrospectively, rules SHC
KARACHI: An Income Tax Appellate bench of High Court of Sindh headed by Justice Aqeel Ahmed Abbasi deciding two identical Income Tax Reference Applications (ITRA 272 & 273 of 2011)…
Petition to revise customs values of bearings rejected
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has rejected the review petitions filed by M/s Inaya Impex and others and upheld the customs values of ball bearings determined vide…
Customs values of automobile bulbs revised
KARACHI: Directorate General of Customs Valuation has revised the values of auto mobile bulbs and modified the Valuation Ruling No.865/2016 through order-in-revision No.272/2016. M/s PASPIDA and other had approached the…
SHC puts Collector Custom PMBQ, DAG on notice for Nov 30
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Irfan Sadaat Khan and Justice Muhammad Humayun Khan on Thursday issued notices to Collector Customs (Appraisement), Port Muhammad…
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 Federal government in the last budget has withdrawn the sales tax exemption…
APTMA expresses great concern over increase in custom duty
KARACHI: APTMA has expressed great concern over the callous attitude of the government in increasing the duty on import of raw cotton from 2 per cent to 3 per cent…
Government notifies customs duty exemption/concessions on raw material imports
KARACHI: The government of Pakistan has notified customs duty exemption and concessions on raw materials used for a number of products. SRO 474(I)/2016 has amended the table of earlier SRO…
M/s Popular Spinning Mills denied injunctive relief by SHC
KARACHI: The Sindh High Court has dismissed the application filed by M/s Popular Spinning Mills Pvt Ltd seeking injunctive relief regarding customs duty collection at the rate of 15 percent…
FBR plans to bracket the government revenue evaders the hard way
KARACHI: Federal Board of Revenue (FBR) is committed to broaden the tax net and plug revenue leakage, Chairman FBR Nisar Mohammad Khan and he has initiated several exercises in this…
Hepatitis C medicine case: SHC adjourns hearing in petitions impugning price notification
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Thursday adjourning five identical petitions impugning a notification fixing…
SHC dismisses petition by Muhammad Ali Chandna
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Friday dismissed a constitution petition filed by an…
Customs Adjudication penalizes importers for clearing banned pharmaceutical chemicals
KARACHI: The Collector Customs Adjudication Chaudry Muhammad Javaid has charged M/s Pure Enterprises, M/s Cemi Zone Karachi and the clearing agent M/s Rajab Ali & sons for importing and clearing…
Tribunal remits personal penalty on Clearing Agent, vacates show cause notice
KARACHI: A Customs Appellate Tribunal comprising Muhammad Nadeem Qureshi , Member (Judicial-I) and Muhammad Yahya, Member (Technical-I) Karachi allowing an appeal by clearing agent Kaka traders remitted personal fine and…