ISLAMABAD (May 13 2003) : The Central Board of Revenue (CBR) has revised duty drawback rates on export of several types of shaving blades and PVC insulated cables.
The new rates would be applicable on shaving blades from May 8, 2003, and on PVC cables from November 23, 2002.
The tax authorities have informed the manufacturers-cum-exporters of PVC cables that the repayment of duty would only be given after presenting relevant documents pertaining to imported PVC compound (cable grade).
The CBR has replaced Schedule II and Schedule XXXVII with the new schedules through issuance of two notifications SRO. 404(I)/2003 and SRO. 401(I)/2003 here on Monday.
The duty drawback on the export of shaving blades made of carbon steel would be 1.62 percent of the fob value; shaving blades made of stainless steel 6.43 percent of the fob value; single blade disposable razor 3.69 percent of the fob value; twin blade disposable razor 4.46 percent of the fob value; and duty drawback on the export of twin blade disposable cartridge would be 2.79 percent of the fob value.
The duty drawback on the export of PVC insulated cables (general wiring) single core to four core up to 10 mm sq would be 12.90 percent of the fob value; PVC insulated power cables or armoured power cable for underground installation or power cables insulated with cross-linked polyethylene single core to four core up to 10 mm sq would be 6.62 percent of the fob value and duty drawback on the export of PVC insulated cables (control and speech cables) would be 8.55 percent of the fob value.
