ISLAMABAD (July 30 2004): The Central Board of Revenue (CBR) has reduced duty drawback rates on the export of surgical/veterinary instruments, stainless steel cutlery, knives, leather garments and other types of leather products from July 29, 2004.
The CBR has amended standard SRO. 413(I)/2004 and SRO. 414(I)/2001 through issuance of SRO. 648(I)/2004, SRO. 649(I)/2004 and SRO. 649(I)/2004 here on Thursday.
The duty drawback has been reduced on the export of stainless steel and carbon steel pocket knives, sportsman knives, hunting knives, key chain pocket knives, swords, meat chopper, kitchen knives, butcher knives from 4.15 percent of the fob value to 3.92 percent of the fob value.
The duty drawback has been slashed on the export of annealed surgical and veterinary instruments of stainless steel and non-surgical scissors of stainless steel, all types from 2.97 percent of the fob value to 1.47 percent of the fob value; annealed surgical and veterinary instruments of carbon steel and non-surgical scissors of carbon steel, all types, 0.98 percent of the fob value to 0.96 percent of the fob value and duty drawback has been reduced on the export annealed surgical and veterinary instruments of stainless steel all sorts made from duty free imported forgings from 1.29 percent of the fob value to 0.75 percent of the fob value.
However, the duty drawback rates remained unchanged on the export of nickel or chrome plated scissors, annealed surgical or non-surgical all types made of cast iron and annealed surgical and veterinary instruments all sorts made of brass.
According to revised Schedule-I of SRO.413, the duty drawback has been reduced on the export of finished leather, including goat or sheep or kangaroo skin from 1.72 percent of the fob value to 0.75 percent; cow or buffalo or camel hide, 3.09 percent of the fob value to 2.88 percent of the fob value and duty drawback on the export of buffalo hide in finished form for furniture or upholstry leather (2.5mm upto 5mm) has been reduced from 4.92 percent of the fob value to 4.55 percent of the fob value.
The duty drawback on the export of leather articles/made-up including saddlery and harness for any animal (including traces, leads, knee pads, muzzles, saddle cloths, saddle bags, dog coats and the like), of any animal, belts has been reduced from 3 percent of the fob value to 2.75 percent of the fob value; trunks, suit cases, vanity cases, executive cases, brief cases, school satchels, spectacle cases, binocular cases, camera cases, musical instrument cases, gun cases, holsters and similar containers, travelling bags, toilet bags, rucksacks, hand-bags, shopping bags, wallets, purses, map cases, cigarette cases, tobacco pouches, tool bags, sports bags, bottle cases, jewellery boxes, powder boxes, cutlery cases and similar containers, including dice cups, made of leather has been reduced from 3 percent of the fob value to 2.75 percent of the fob value.
The duty drawback on the export of leather garments has been reduced from 5.56 percent of the fob value to 5.33 percent of the fob value.
Moreover, the duty drawback on the export of cut leather components for shoes, garments, gloves and upholstery, leather patchwork sheets, aprons and other protective clothing braces, bandoleers and wrists strap has been reduced from 2.50 percent of the fob value to 2.29 percent of the fob value; articles of leather of a kind used in machinery of mechanical appliances or for other technical/industrial uses from 2.50 percent of the fob value to 2.29 percent of the fob value; leather uppers, including lasted uppers with or without accessories like insoles sock, lining heal covers and other embellishment, 2.50 percent of the fob value to 2.29 percent of the fob value; all sorts of gloves, 3 percent of the fob value to 2.75 percent of the fob value and duty drawback has been reduced on the export of all other made-ups of leather to 2.29 percent of the fob value.
The duty drawback has been reduced on the export of finished leather wherein imported wet blue hides and skins under manufacturing bond have been used, including goat or sheep or kangaroo skins has been reduced from 1.28 percent of the fob value to 1.17 percent of the fob value; cow or buffalo or camel hides, 1.88 percent of the fob value to 1.78 percent of the fob value and rates has been slashed on the export buffalo hide in finished form for furniture or upholstry leather (2.5mm upto 5mm) from 3.39 percent of the fob value to 3.16 percent of the fob value.
The duty drawback has been reduced on the export of leather articles and made-ups wherein imported wet blue hides, skins as well as accessories under manufacturing bond have been used including saddlery and harness for any animal (including traces, leads, knee pads, muzzles, saddle cloths, saddle bags, dog coats and the like), of any animal from 1.33 percent of the fob value to 1.22 percent of the fob value; trunks, suit cases, vanity cases, executive cases, brief cases, school satchels, spectacle cases, binocular cases camera cases, musical instrument cases, gun cases, holsters and similar containers, travelling bags, toilet bags, rucksacks, hand-bags, shopping bags, wallets, purses, map cases, cigarette cases, tobacco pouches, tool bags, sports bags, bottle cases, jewellery boxes, powder boxes, cutlery cases and similar containers, including dice cups, made of leather, from 1.33 percent of the fob value to 1.22 percent of the fob value.
The duty drawback on the export of leather garments has been slashed from 1.97 percent of the fob value to 1.85 percent of the fob value.
The duty drawback on the export of cut leather components for shoes, garments, gloves, leather patchwork sheets, aprons and other protective clothing braces, bandoleers and wrist strap has not been changed.
The duty drawback on the export of all other made-ups of leather has been revised.
The CBR has also notified duty drawback rates on the export of other types of leather products under the amended notification.
