201406.29
0
0

Rescinding of SROs

Vide SRO573(I)/2014 dated 26.06.2014 , the following notifications have been withdrawn: a) SRO549(I)/2008 relating to zero rating of certain items. b) SRO551(I)/2008 relating to conditional exemption of various items. c) SRO727(I)/2011 dated 1st August, 2011 relating to conditional exemption on import of machinery. d) SRO501(I)/2013 dated 12th June, 2013 relating to exemption of certain items….

201406.29
0
0

Amendments in the Sales Tax Special Procedure Rules, 2007

Vide SRO 576(I)/2014 dated 26-06-2014 certain amendments have been made in¬†chapter XI of the Rules relating to Special Procedure for Payment of Sales Tax by Steel Melters, Re-rollers and Ship Breakers. These changes are corrective in nature to rectify certain typographical errors and have no impact on chargebility of sales tax or conditions of the…

201406.29
0
0

Change in duty and taxes on Import of Cars

by in Customs

Federal Government has made certain changes in its notification No. SRO 577(I)/2005 dated 06.06.2005 vide SRO562(I)2014 dated 26.06.2014. By virtue of these amendments, fixed amount of duty and taxes on import of cars up to 1800 cc has been increased by about 10%. The new rates are as under: Automatic vehicles of Asian makes meant…

201406.29
0
0

Rescinding of SRO 567(I)/2006

by in Customs

Vide SRO 563(I)2014 dated 26.06.2014 SRO 567(I)/2006 relating to conditional exemption of various items has been withdrawn. As already intimated, some of these exemptions have been made part of the schedules of the Customs Act, 1969 and some exemptions have altogether been withdrawn. Each item is therefore be required to be examined separately.

201406.29
0
0

Amendment in SRO 565(I)/2006 dated 05-06-2006

Vide SRO565(I)2014 dated 26.06.2014, substantial changes have been made in SRO565(I)2006 dated 5th June 2006. Number of items eligible to concessionary rate of duty has been reduced to 59. The previous SRO covered more than 157 items. Treatment of each concession may be individually examined and queries, if any, may be raised. Main features of…

201406.29
0
0

Amendment in SRO 499(I)/2013

by in Customs

Vide SRO567(I)2014 dated 26.06.2014, table of SRO 499(I)2013 relating to concessionary rate of duty on hybrid vehicles has been replaced. The new table is as under: Engine Capacity. Extent of exemption in leviable duty & taxes. (1) (2) (3) Upto 1800 CC 50% Exceeding 1800 CC 25%.

201406.29
0
0

5% Regulatory Duty on Import of Certain Items

by in Customs

Vide SRO 568(I)/2014 dated 26.06.2014, regulatory duty at the rate of 5% on 282 items has been imposed. It may be recalled that most of these items were chargeable to customs duty at the rate of 30%. However since maximum tariff rate was reduced to 25%, these 282 items have been selected for total incidence…