The Central Board of Revenue (CBR) has started recovery proceedings against importers of incandescent lamps, tube-lights and energy saver lamps who failed to deposit sales tax on the basis of minimum assessable value in dollars at the import stage.
According to sources, the CBR has issued instructions to the collectors of customs for immediate initiation of recovery action against these importers.
The issue came to light when certain customs stations failed to collect sales tax from importers of incandescent lamps, tube-lights and energy saver lamps at the minimum assessable value under SRO 781(I)/2006.
The minimum assessable C&F value of different types of incandescent lamps ranges from $0.2 to $0.116 for calculating sales tax; for tube-lights $0.42 to $0.525, and minimum assessable value of energy saver lamps ranges from $1.26 to $1.71 for assessment of sales tax.
The instructions issued to the field formations say that it has been brought to the Board's notice that the minimum assessable values of incandescent lamps, tube-lights and energy saver lamps fixed for assessment of sales tax at import stage have not been implemented at some customs stations.
The collectors should initiate necessary action for recovery of short levied amount of sales tax, if any, immediately for the consignments cleared on or after July 13, 2006. The collectors should submit the requisite report by the end of January, the instructions said.
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