ISLAMABAD (November 30 2005): The Central Board of Revenue (CBR) has allowed the importers to clear liquid bulk cargo like chemicals, POL products, edible oil etc from Karachi Port and Port Qasim under concessional SRO 565(I)/2005.
Previously, the clearance of inputs was allowed through one of the two ports or dry port only. Now, the CBR has amended SRO 565(I)/2005 through a notification to facilitate the importers.
According to the SRO the facility of clearance of imported liquid bulk cargo at Karachi shall be allowed from either port ie Port Qasim and Karachi Port subject to the maintenance of centralised record of quota debiting at the port for which the Provisional or Final Certificate is issued.
This would enable the customs to ensure clearance of permitted quantity of liquid cargo through Port Qasim or Karachi Port.
The CBR has also allowed exemption of customs duty on the import of raw materials used in the manufacture of 'Effluent Treatment Plant”. This is subject to the condition that the local manufacturer should be duly recognised and recommended by Engineering Development Board (EDB). A new entry “71A” has been included in the Table of SRO 565(I)/2005 in this regard.
The CBR had levied concessional rate of 5 percent customs duty on the import of 'effluent treatment plant'. CBR would charge minimum 5 percent customs duty on the import of such liquid industrial waste-treatment plants, while no sales tax would be charged on the import of this equipment.
However, the new amendment would allow the local manufacturers to import raw materials used in the manufacture of such plants at the rate of zero percent customs duty.
