Goods cleared from warehouse within 30 days FBR decides to remit penal surcharge

KARACHI: Federal Board of Revenue (FBR) has decided to remit the penal surcharge in the case of goods cleared from the warehouse within 30 days.

According to a notification issued on October 27, the FBR will remit the penal surcharge in the case of goods which are cleared from the warehouse within 30 days, starting from the date of commencement of this notification.

It further stated that the board will extend existing warehousing period of already in-bounded goods for a further period of 30 days from the date of commencement of this notification. It said this notification shall not apply to the goods which had since been abandoned or auctioned under the Customs Act 1969.

Copyright Business Recorder, 2021