ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced customs duty drawback from 1.72 percent of the f.o.b value to 4.396 percent of the f.o.b value on the export of different types of fans including ceiling, pedestal, cabin, table and exhaust fans from September 10, 2020.
The FBR has amended the standard duty drawback notification SRO.211(I)/2019 through an SRO.859(I)/2020 issued Thursday.
According to the notification, the number of inputs and raw materials used in the manufacturing of finished products has been increased from nine to eleven.
Under S.R.O. 211(I)/2009, the FBR has authorized repayment of customs-duties paid on the importation of the raw materials used in the production or manufacture of the specified goods and exported during the period specified. This is subject to the condition that the raw materials imported the manufactured goods are exported out of Pakistan and an application for repayment of customs-duties is presented to the proper officer of Customs within 210 days of such exportation or within 180 days from the date of realization of foreign exchange as shown on Bank Credit Advice issued in accordance with the current directive of the State Bank of Pakistan; and the exporter makes a declaration on the goods declaration filed under section 131 of the Customs Act, 1969 and on other export documents for his claim for repayment of the customs-duties paid on the imported raw materials used in the production or manufacture of the goods being exported.
Copyright Business Recorder, 2020
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