CCP APPLAUDS SUPPORT OF THE FEDERAL CABINET FOR RESOLVING THE ISSUE OF CCP’S INDEPENDENT FUNDING

ISLAMABAD: The Federal Cabinet, in its meeting on 24 November 2020, demonstrated its unequivocal support to the CCP by approving the issuance of a statutory regulatory order (SRO), prescribing 3% of fee and charges levied by SECP, OGRA, PTA, NEPRA and PEMRA from the financial year 2009-10 and onwards to… Continue reading

Pulses, edible oil imports stuck at port awaiting SRO

KARACHI: Importers of pulses, edible oil and seeds said that they are unable to clear their consignments from the port because duty and tax relief related Statutory Regulatory Orders (SRO) have still not been issued. “On March 30, the government had decided on to bring advance tax on import of… Continue reading

SHC adjourns hearing seeking copy of SRO Benefit of section 181 Iranian diesel smuggling

KARACHI: A customs appellate bench of High Court of Sindh (SHC) adjourned a petition seeking release of a land cruiser to consider that whether benefit of section 181, Customs Act 1969 is available in case of a vehicle in private use if found involved in smuggling of good (s). The… Continue reading

SHC issue notice in petition by Steel Re-rolling Mill

KARACHI: Pre-admission notice was issued in a petition filed by Mehboob Re-rolling Mills by a division bench of High Court of Sindh here on Friday. The bench earlier heard the counsel for petitioner mills who submitted that Sales Tax Special Procedure Rules were repealed in June this year as the… Continue reading

Apparently imports being discouraged observes SHC, DIT actions give rise to misgiving

KARACHI: The importers are expressing grievance that they were not allowed to work. It appears that attempts are made to curb imports drastically. These observations were made by an appellate bench of High Court of Sindh hearing petitions filed by Islam Engineering (pvt) Limited. Barrister Wajeeha Mehdi appearing for the… Continue reading

SHC puts AG Sindh on notice in ST over Cotton seeds

KARACHI: The Advocate General Sindh was put on notice by an appellate bench of High Court of Sindh in a petition challenging a SRO levying Sales Tax on Cotton Seed with retrospective effect. The petitioner challenging the demand for payment of Sales Tax maintained that  Entry 81  of Sales Tax… Continue reading

Customs amends section 221-A of Customs Act 1969 SC disposes of departmental appeals in RD cases

KARACHI: A full bench of Supreme Court of Pakistan comprising Justice Mian Saqib Nisar, Justice Umar Ata Bandiyal and Justice Ijaz-ul-Hasan disposed of appeals filed by Customs department after its counsel told the bench that on account of developments and amendements in the relevant provisions of law, the present matters… Continue reading

Reduction in import duties on MDF demanded by of value addition industries and importers of MDF

The importers of Raw Medium Density Fiberboard (MDF) have demanded from the government to reduce the import duty on raw MDF from 17 per cent to 5 per cent to protect commercial importers who are selling this imported product to small workshops, carpenters, joineries, and the value-addition industry of Pakistan…. Continue reading

Importer penalised for availing inadmissible sales tax concessions

KARACHI: Collector of Customs Adjudication Dr. Shazia Ikram has penalised an importer and clearing agent for evading government revenue through claiming inadmissible benefit of concessionary SRO on the import of processed cheese. M/s Sabiha Anees Trading Enterprises is imposed a penalty of Rs1.0 million along with the payment of evaded… Continue reading

Textile company penalized for evading government revenue

KARACHI: Collector Customs Adjudication Chaudry Mohammad Javaid has imposed a penalty of Rs5.0 million on M/s Magna Textile Industries Pvt Ltd along with the payment of Rs25.57 million duty/taxes evaded through the claim of inadmissible benefit through mis-declaration. According to details, PCA Karachi had detected the case and according to… Continue reading