ISLAMABAD: Federal Board of Revenue (FBR) has allowed its Collectorates to release goods/items indicated in the list of locally manufactured goods, sources in the Commerce Ministry told Business Recorder.

According to sources, FBR has clarified that the goods detailed in the appended list of Custom General Order (CG) 4/2022 of April 19, 2017, are manufactured locally, a list compiled and updated by the Engineering Development Board in consultation with stakeholders. Henceforth, the appended list of locally manufactured goods is applicable for reference purposes to all the exemptions/concessionary notifications/regimes.

The Collectorates of Customs and the staff responsible for allowing concessions under different notifications/ orders have been advised to follow the approved list for the purposes of allowing concessions from customs duties and sales tax, etc.

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The information, if any, along with evidence regarding the local manufacture of goods, not indicated in the list, may be forwarded to the FBR forthwith so that the list of locally manufactured goods/items is updated in consultation with the Engineering Development Board.

The sources further stated that Collectors; however, have been authorized to allow the release of goods/items indicated in the list of locally manufactured goods/ items against bank guarantee for a period of three months if the importer produces a certificate issued by the renowned local manufacturers of the disputed items from Engineering Development Board stating that the imported item is not being manufactured locally and the importer shall produce a clarification from FBR to this effect within the above stated period of three months.

Copyright Business Recorder, 2022