5.0% regulatory duty on cotton yarn import abolished

KARACHI: The government has abolished five percent regulatory duty on yarn import amid anticipated shortage of the industrial input on falling cotton output in the country. The Economic Coordination Committee (ECC) of the cabinet decided to remove the regulatory duty on import of cotton yarn till 30 June next year… Continue reading

Contempt notices issued to Chief Collector, Collectors Pakistan Customs for Nov 18

KARACHI: The contempt of court notices were issued against Chief Collector South, Collectors of East, West and Port Muhammad Bin Qasim collectorates for Nov 18 in dozens of applications in disposed of petitions filed by importers of tiles including Mahrosh. According to details, the petitions pertained to exemption from custom… Continue reading

SHC re_endorse judgment about Regulatory Duty

KARACHI: More than 50 petitions challenging imposition of Regulatory  Duty (RD) through Finance Act 2017 were disposed of by a customs Appellate bench of High Court of Sindh declaring the RD imposition with retrospective effect as void, ab_initio. The bench heard petitions filed by Dewan Motors and 52 other companies…. Continue reading

Federal budget proposes Custom duty, regulatory duty reduction on a large number of products and raw material

KARACHI: Federal Budget 2020-21 has proposed exemption of additional custom duties on those tariff lines which now attract zero customs duty in tariff along with reduction of custom duty on 40 raw materials of various industries. Moreover, tariff rationalization under National Tariff Policy 2019 is proposed by reducing customs duty… Continue reading

Tyre traders seek FPCCI intervention for removal of regulatory duty

KARACHI: Pakistan Tyre Importers and Dealers Association (PTIDA) has demanded immediate removal of regulatory duty on tyres.  A delegation of PTIDA visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and apprised of various slabs of regulatory duty on tyres, which in effect is encouraging smuggling of tyres and… Continue reading

PTIDA Delegation requested FPCCI intervention for removal of Regulatory Duty on Tyres

Pakistan Tyre Importers and Dealers Association (PTIDA) has demanded immediate removal of Regulatory Duty on Tyres. A delegation of PTIDA led by Mr. Shahid Anwal, Chairman FPCCI Standing Committee on Tyre along with Mr. Azeem K. Yousufzai, Chairman PTIDA, Mr. Syed  Burqi Senior Vice Chairman PTIDA, Mr. Muhammad Qamar and… Continue reading

SHC hears petitions by manufacturers against concession, IPO restriction, Regulatory Duty

KARACHI: The ship breaking industry is enjoying concessionary tax regime on re-melt-able iron scrap detrimental to commercial importers and manufacturers. The commercial importer, manufacturers also faces Import Policy Restriction and Regulatory Duty from which ship breakers are exempted. These issues were raised in three different constitutional petition filed by Ghulam… Continue reading

SHC restrains customs from recovering Regulatory Duty

KARACHI: A customs appellate bench of High Court of Sindh (SHC) restrained the respondent custom officials from coercive recovery of “Regulatory Duty” while issuing pre-admission notice for Jan 14. The bench earlier heard a counsel from law firm Franklin Law Associates who submitted that the petitioner is admittedly an  export… Continue reading

SHC adjourns Regulatory Duty cases till Oct 16 DAG asked to bring the format of approval by the Federal government

KARACHI: An appellate bench of High Court of Sindh (SHC) directed a federal law officer to place before the court the format, minutes of the Cabinet or Agenda for approving imposition of tax, duty or other levies. The bench was hearing identical petitions filed by Noor Enterprise and Hikmat Traders… Continue reading

SHC reserves judgment in petitions against delay in refund of Regulatory Duty amounts

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Abdul Malik Gaddi on Monday reserved judgment in dozens of petitions seeking return of amounts collected as Regulatory Duty. The bench heard the counsel from both sides at length. The counsel for petitioners… Continue reading