(CUSTOMS) SRO 461(I)/2004

Text of (CUSOTMS) SRO 461(I)/2004.

GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, ECONOMIC AFFAIRS,
STATISTICS AND REVENUE
(REVENUE DIVISION)

Islamabad, the 12th June, 2004

NOTIFICATION
(CUSTOMS)
SRO 461(I)/2004.-In exercise of the powers conferred by section 219 of the Customs Act, 1969 (IV of 1969), the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Customs Rules, 2001, namely: -
In the aforesaid Rules,-
(a) in rule 12, under the heading "(A) Duty Free Allowance,"-
(i) in clause (b), for the words "six hundred" the words "one thousand " shall be substituted;
(ii) in clause (c), for the words and hyphen "two hundred and twenty-five" the words "three hundred" shall be substituted; and
(iii) in clause (f), after the word "player" occurring for the second time, the words, letters and comma "one VCD player, one watch" shall be inserted;
(b) in rule 13, under the heading "(A) Duty Free Allowance:"
(i) in clause (b), for the words "one thousand and one hundred" the words "one thousand and five hundred" shall be substituted;
(ii) in clause (c), for the words "one thousand and one hundred" the words "two thousand" shall be substituted; and
(11) Units employing upto 25 workers will be allowed to import or purchase one coaster while units employing more than 25 will be allowed to import or purchase a bus upto 50 seats. Similarly, units with turnover of US $5.00 million or more per annum will be allowed to import or purchase one cargo vehicle or truck."; and
(f) in rule 228,-
(iii) in clause (g) the word "and", at the end shall be omitted;
(iv) in clause (h), after the semi colon the word "and" shall be inserted and thereafter the following new clause shall be inserted, namely:-
"(i). one VCD player, one watch, one hi-fi sound system, one sewing machine and one exercise machine;";
(c) in rule 17 in sub-rule (1),-
(i) in clause (a) for the figure "225" the figure "500" shall be substituted; and
(ii) in clause (b) for the figure "450" the figure "1000" shall be substituted;
(d) in rule 39, clauses (b) and (c) shall be omitted;
(e) in rule 226, after sub -rule (9) the following new sub-rule shall be substituted, namely:-
"(10) Import of vehicles will be allowed without payment of customs duty and other taxes as per following entitlements, namely: -

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S.No  Amount invested   Entitlement of vehicle

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1     $ 1.00 million             Upto 1000 CC;

2     Upto $ 5.00 million        Upto 1300 CC;

3     Upto $ 10.00 million   Upto 1800 CC; and

4  More than $ 10.00 million     Above 1800 CC

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(i) in sub-rule (1), the words, letters, full stop, figures and comma "and documentation shall be completed on the basis of exemption from duties and taxes under the Board's Notification No. SRO 881(I)/80, dated the 23rd August, 1980" shall be omitted; and
(ii) after sub-rule (4), the following new sub-rule shall be inserted, namely:-
"(5) The units established in the Export Processing Zones shall export only upto twenty per cent of their total production to tariff areas in Pakistan while eighty per cent shall be exported to other countries.".
[C.No.1/6/Mach./2004]
(MUHAMMAD RAMZAN)
Additional Secretary
Copyright Business Recorder, 2004