The Central Board of Revenue (CBR) has laid down five conditions for giving exemption of 25 percent customs duty on the import of raw sugar. The CBR has superseded SRO. 17(I)/2005 of January 1 through an SRO (I)/2005 issued here on Thursday.
According to the conditions, the exemption would only be available to raw sugar imported in bulk, ie, not bagged; the exemption will not apply to raw sugar imported after April 30, 2005; the raw sugar so imported would be above 600 Icumsa (a scale on which colour of sugar is measured and a pre-shipment certificate to this effect would be necessary; the letter of credit opened would be registered with the State Bank of Pakistan for the purpose of this notification to reach a cumulative total of 200,000 tonnes and the letters of credit for import of only 200,000 tonnes would be opened only on C&F free out basis.
The CBR has exempted 200,000 tonnes of raw sugar falling under heading 17.01 for the purposes of refining to white sugar from customs duty leviable under the First Schedule of the Customs Act, 1969.