ISLAMABAD (December 18 2002) : The Central Board of Revenue (CBR) on Tuesday issued twelve different standard/individual notifications brining wide-ranging changes in the duty drawback regime.
These SROs have given duty drawback facility to all the manufacturer-cum-exporters of sports goods, mango juice, hurling balls, unstitched/cut panels for footballs, soccer balls, handballs, volleyballs, rugby balls, mini balls with artificial leather from December 2002.
This is the last batch of SROs as per exercise initiated few months back to bring the duty drawback rates at par with the actual duty levied on the raw materials used in the finished products.
For this purpose, the CBR has included new schedules in two standard notifications ie SRO.413(I)/2001 and SRO.415(I)/2001.
Individual duty drawback notifications have been issued to facilitate Capital Sports Corporation (Pvt) Limited, Sialkot; Popular Food/Juice Industries Ltd, Karachi; SAB Polymer Industries Ltd Lahore; Awan Sports Industries (Pvt) Ltd Lahore; Hi-Noon Traders, Sialkot; Nestle Milkpak, Lahore; Clariant Pakistan, Karachi, Top Star Industries, Peshawar, Shiraz Industries, Peshawar and Packages Limited.
The notifications rescinded are SRO.266(I)/95, SRO.112(I)/99, SRO.1062(I)/97, SRO.852(I)/97 and other notifications.
Sources said that the issuance of these notifications is a part of government's policy to revamp the duty drawback regime for the entire business community particularly exporters.
A new schedule has been added in the standard SRO.413 (I)/2001 through an SRO.885(I)/2001 giving duty drawback on the export of sports goods made of composite materials (carbon fiber, glass fiber, kevlar aluminum etc).
The extent of repayment of duty would be 6.48 per cent of the fob value on the export of such sports goods.
The repayment would be 5.72 per cent of the fob value on the export of baseballs made of artificial leather with cork and rubber or rubber foam.
According to SRO.914(I)/2002, the repayment would be 5.35 per cent of the fob value on the export of unstitched/cut panels for footballs, soccer balls, handballs, volleyballs, rugby balls, mini balls with artificial leather. This was notified through an amendment in the SRO.413(I)/2001.
Another amendment in SRO.413(I)/2001 has allowed rebate on hurling balls. The extent of repayment on hurling balls made of artificial leather is 2.89 per cent of the fob value and hurling balls made of cowhide leather is 2.65 per cent of the fob value.
For the first time the exporters of mango juice can avail duty drawback at the rate of Re 0.14 per litre from December 11, 2002.
SRO.919(I)/2002 and SRO.920(I)/2002 have notified drawback on the export of toilet tissue paper, facial tissue paper and white MG sulphate paper in reels/sheets for Packages Limited, Lahore.
Clariant Pakistan, Karachi could enjoy the facility on the export of master batch colours sanylene white, blue, green, red, yellow, cream and master batch colours brown under SRO.918(I)/2002.
The CBR has allowed rebate (Rs 0.74 per kilogram-Rs 1.90 per kilogram) on the export of beef noodles, oriented noodles and chicken noodles by Nestle Milkpack Ltd. The department has superseded SRO.653(I)/99 through an SRO.917(I)/2002.
Hi-Noon Traders could avail drawback on the export of hurling balls made of artificial/cow leather (2.65-3.35 per cent of toe fob value) as per SRO.910(I)/2002.
Popular Juice Industries (Pvt) Ltd Karachi has been given rebate on the export of mango juice, tetra pack for juices.
Capital Sports Corporation (Pvt) Limited, Sialkot and Awan Sports Industries (Pvt) Ltd Lahore could avail duty drawback on the export of unstitched/cut panels for different balls and sports goods, respectively.
